Australian non-government and government investments in significant business assets are exempt from the requirement to obtain prior consent from the Overseas Investment Office if they are under certain alternative monetary thresholds.
For the period 1 January 2020 to the close of 31 December 2020, the alternative monetary threshold for Australian non-government investments is 536 million New Zealand dollars, and the alternative monetary threshold for Australian government investments is 112 million New Zealand dollars.
This notice is made in accordance with section 13 of the Interpretation Act 1999, which allows a power to be exercised to correct an error or omission in a previous exercise of the power.
This notice corrects legislative references and rounding errors in a previous notice, which was posted in the New Zealand Gazette, 13 November 2019, Notice No. 2019-go5142.
Dated this 14th day of April 2020.
VANESSA HORNE, Group Manager Overseas Investment Office, Land Information New Zealand.