Fighting Foreign Corporate Control Bill

Fighting Foreign Corporate Control Bill EXPLANATORY NOTE GENERAL POLICY STATEMENT This bill aims to protect the public interest by prohibiting New Zealand from entering international agreements that include provision for investor-state dispute settlement. CLAUSE BY CLAUSE ANALYSIS Clause 1 states the bill’s title. Clause 2 provides for the bill’s commencement. Clause 3 states the bill’s purpose. Clause 4 provides that the bill binds the Crown. Clause 5 states that New Zealand must not enter into an agreement with one or more foreign countries that includes provision for investor-state dispute settlement. The Parliament of New Zealand enacts as follows: 1 Title This Act is the Fighting Foreign Corporate Control Act 2015 . 2 Commencement This Act comes into force on the day after the date on which it receives the Royal assent. 3 Purpose The purpose of this Act is to protect New Zealand laws by prohibiting New Zealand from entering international agreements that include provision for investor-state dispute settlement. 4 Act binds the Crown This Act binds the Crown. 5 No investor-state dispute settlement in international agreements New Zealand must not enter into an agreement with one or more foreign countries that includes provision for investor-state dispute settlement.