On 27 November 2020, NZ GVT announced retention of the emergency notification regime.

• Second review concluded that Covid justifies regime continuing for a further 90 days.
• Ministers’ next decision on whether it should be retained will be due by 24 February 2021.

Background

• Introduced June 2020, to manage heightened foreign investment risks due to Covid.
• Overseas persons to notify of controlling investments in existing NZ businesses or business assets, even if consent not usually needed under Overseas Investment Act.
• Allows NZ GVT to impose conditions/even block transactions not in national interests.
• Ministers review every 90 days to assess whether Covid justifies it remaining in force.