The government will move to ensure New Zealand assets don't fall into foreign ownership during the Covid-19 crisis.
Associate Finance Minister David Parker, who is also the Trade Minister Photo: RNZ /Dom Thomas
It will amend the Overseas Investment Act to bring forward a national interest test, as agreed by Cabinet last year.
There will also be a temporary application of that test to any foreign investments that result in more than a 25 per cent ownership interest.
Once the temporary measures end, a national interest test will remain for business transactions at a minimum threshold of 100 million dollars.
Associate Finance Minister David Parker said the changes would help prevent cornerstone businesses being sold in a way that is contrary the national interest.
