ANNEX I Schedule of Brunei Darussalam Headnote ... - SICE

SectorAll SectorsObligations concerned National Treatment (Article 12.4)Measure Overseas Investment Act 1973Fisheries Act 1996Overseas Investment Regulations 1996DescriptionInvestmentConsistent with New Zealand’s overseasinvestment regime as set out in the relevantprovisions of the Overseas Investment Act 1973,the Fisheries Act 1996, the Overseas InvestmentRegulations 1996 (and proposed successorlegislation) the following investment activitiesrequire prior approval from the New ZealandGovernment:(a)(b)(c)(d)acquisition or control of 25 per cent or moreof any class of shares or voting power in aNew Zealand entity where either theconsideration for the transfer or the value ofthe assets exceeds NZ$50 million;*commencement of business operations oracquisition of an existing business,including business assets, in New Zealand,where the total expenditures to be incurredin setting up or acquiring that business orthose assets exceed NZ$50 million;*acquisition or control, regardless of dollarvalue, of certain categories of land that areregarded as sensitive or require specificapproval according to New Zealand’sOverseas Investment legislation, andacquisition of any land wherever locatedworth more than NZ$10 million;** andacquisition, regardless of the dollar value,of 25 per cent or more of any class ofshares or voting power in a New Zealandentity that owns commercial fishing quotaor annual catch entitlement, or theacquisition of commercial fishing quota orIII-NZ-2