Community Scoop » Overseas Investment Reform Protects Strategically Important Assets
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Overseas Investment reform protects strategically important assets
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Report said investments were picked up that posed no risk to national security or national interest.
Parliament’s Finance and Expenditure Select Committee has recommended changes to overseas investment legislation to make it a bit easier for foreign investors.
Tougher rules came into effect after the country was hit by the Covid-19 pandemic, mainly in response to the government’s fear that strategic New Zealand assets could be picked off by foreign investors. The Urgent Measures Act introduced a national interest test and imposed tighter controls.
Now the committee, chaired by Labour MP Dr Duncan Webb, has reported back on the Overseas Investment Amendment Bill (No 3), which would make permanent a number of changes introduced in the