8155 (2025). Hon Barbara Edmonds to the Associate Minister of Finance

8155 (2025). Hon Barbara Edmonds to the Associate Minister of Finance: What specific safeguards, if any, are being put in place to prevent potential adverse effects on strategic national assets or sensitive industries as part of the Overseas Investment Act Reform?

Hon David Seymour: Strategically important businesses (SIBs) and sensitive assets are screened in different ways under the Act. SIBs are screened under the existing National Security and Public Order regime which will be retained with minor changes to improve flexibility. Farm land, fishing quota, and residential land remain sensitive and the current screening arrangements will be retained. An investment in these assets will need to show a benefit to New Zealand. All other assets may be declined if they are contrary to the national interest. The regulator, Land Information New Zealand, can apply and enforce conditions of consent.