Consolidated TPP Text – Annex I – Schedule of New Zealand

Introductory Notes

1. Description sets out the non-conforming measure to which the entry applies.

2. In accordance with Article 9.12 (Non-Conforming Measures) and Article 10.7 (Non-Conforming Measures), the articles of this Agreement specified in the Obligations Concerned element of an entry do not apply to the laws, regulations, rules, procedures, decisions, administrative actions, practices or other measures identified in the Description element of that entry.

Sector:

All

Obligations Concerned:

National Treatment (Article 9.4)

Level of Government:

Central

Measures:

Companies Act 1993

Financial Reporting Act 1993

Description:

Investment

Consistent with New Zealand’s financial reporting regime established under the Companies Act 1993 and Financial Reporting Act 1993, the following overseas non-issuer companies are required to file audited financial statements with the Registrar of Companies:

A company is “large” if it meets at least two of the following criteria:

These requirements do not apply if the overseas company is a subsidiary of a New Zealand company that has already filed audited group financial statements with the Registrar of Companies.

Sector:

Business Services

Obligations Concerned:

National Treatment (Article 10.3)

Most-Favoured-Nation Treatment (Article 10.4)

Level of Government:

Central

Measures:

Section 100(2)(a) of the Patents Act 1953

Description:

Cross-Border Trade in Services

Registration of patent attorneys is restricted to those who satisfy the criteria set out in section 100(2)(a) of the Patents Act 1953, being any person who is a British subject or a citizen of the Republic of Ireland.

Sector:

Agriculture, including services incidental to agriculture

Obligations Concerned:

National Treatment (Article 9.4 and Article 10.3)

Performance Requirements (Article 9.10)

Senior Management and Boards of Directors (Article 9.11)

Level of Government:

Central

Measures:

Dairy Industry Restructuring Act 2001

Description:

Investment and Cross-Border Trade in Services

The Dairy Industry Restructuring Act 2001 (DIRA) and Regulations provide for the management of a national database for herd testing data.  The database is currently held by the Livestock Improvement Corporation Ltd (LIC). 

The DIRA:

Sector:

Communication Services

Telecommunications

Obligations Concerned:

National Treatment (Article 9.4)

Senior Management and Boards of Directors (Article 9.11)

Level of Government:

Central

Measures:

Constitution of Chorus Limited

Description:

Investment

The Constitution of Chorus Limited requires New Zealand government approval for the shareholding of any single overseas entity to exceed 49.9 per cent. 

At least half of the Board directors are required to be New Zealand citizens.

Sector:

Communication Services

Audio-visual Services

Obligations Concerned:

National Treatment (Article 9.4 and Article 10.3)

Local Presence (Article 10.6)

Performance Requirements (Article 9.10)

Level of Government:

Central

Measures:

Radiocommunications Act 1989

Description:

Investment and Cross-Border Trade in Services

The acquisition of licences or management rights to use the radio frequency spectrum, or any interest in such licences or management rights, under the Radiocommunications Act 1989 by foreign governments or agents on behalf of foreign governments is subject to the written approval of the Chief Executive of the Ministry of Business, Innovation and Employment.

Sector:

Agriculture, including services incidental to agriculture

Obligations Concerned:

Senior Management and Boards of Directors (Article 9.11)

Level of Government:

Central

Measures:

Primary Products Marketing Act 1953

Description:

Investment

Under the Primary Products Marketing Act 1953, the New Zealand Government may impose regulations to enable the establishment of statutory marketing authorities with monopoly marketing and acquisition powers (or lesser powers) for “primary products”, being products derived from beekeeping, fruit growing, hop growing, deer farming or game deer, or goats, being the fur bristles or fibres grown by the goat.

Regulations may be issued under the Primary Products Marketing Act 1953 concerning a broad range of the marketing authority’s functions, powers and activities.  In particular, regulations may require that board members or personnel be nationals of or resident in New Zealand.

Sector:

Air Transportation

Obligations Concerned:

National Treatment (Article 9.4)

Senior Management and Boards of Directors (Article 9.11)

Level of Government:

Central

Measures:

Civil Aviation Act 1990

Ministerial Guidelines

Description:

Investment

Only a licensed air transport enterprise may provide international scheduled air services as a New Zealand international airline.  Licences to provide international scheduled air services as a New Zealand international airline are subject to certain conditions to ensure compliance with New Zealand’s air services agreements. Such conditions may include requirements that an airline is substantially owned and effectively controlled by New Zealand nationals, has its principal place of business in New Zealand or is subject to the effective regulatory control of the New Zealand Civil Aviation Authority.

Sector:

Air Transportation

Obligations Concerned:

National Treatment (Article 9.4)

Senior Management and Boards of Directors (Article 9.11)

Level of Government:

Central

Measures:

Constitution of Air New Zealand Limited

Description:

Investment

No one foreign national may hold more than 10 per cent of shares that confer voting rights in Air New Zealand unless they have the permission of the Kiwi ShareholderFootnote 1. In addition:

Sector:

All

Obligations Concerned:

National Treatment (Article 9.4)

Performance Requirements (Article 9.10)

Senior Management and Boards of Directors (Article 9.11)

Level of Government:

Central

Measures:

Overseas Investment Act 2005

Fisheries Act 1996

Overseas Investment Regulations 2005

Description:

Investment

Consistent with New Zealand’s overseas investment regime as set out in the relevant provisions of the Overseas Investment Act 2005, the Fisheries Act 1996 and the Overseas Investment Regulations 2005, the following investment activities require prior approval from the New Zealand Government:

Overseas investors must comply with the criteria set out in the overseas investment regime and any conditions specified by the regulator and the relevant Minister or Ministers. 

This entry should be read in conjunction with Annex II – New Zealand – 7 and 8.

Sector:

All

Obligations Concerned:

Performance Requirements (Article 9.10)

Level of Government:

Central

Measures:

Income Tax Act 2007

Goods and Services Tax Act 1985

Estate and Gift Duties Act 1968

Stamp and Cheque Duties Act 1971

Gaming Duties Act 1971

Tax Administration Act 1994

Description:

Any existing non-conforming taxation measures.

Date Modified: