Change of control – Petroleum permits

This page gives you information about what you need to do if there is a change of control within your permit or licence.

A change of control occurs when a person obtains a controlling interest in a body corporate that is a petroleum permit participant. For exploration and mining permits, it also occurs when a person ceases to have a controlling interest.

A person has a controlling interest if they have the power, directly or indirectly, to exercise, or control the exercise of, 50% or more of the voting rights in the body corporate, either alone or together with one or more other persons.

You must apply for consent at least three months before the change of control if:

  • you are an operator or participant in an exploration or mining permit (or licence), or
  • you are the operator of a prospecting permit.

This obligation applies to a person obtaining a controlling interest (an incoming person) and, for exploration and mining permits, a person ceasing to have a controlling interest (an outgoing person).

You must notify us within three months after the change of control if:

  • you are a participant in a prospecting permit, or
  • the change of control occurs to a party that has provided a guarantee for you.

A permit may be revoked if a change of control is not consented or notified within the required timeframes.

For more information on the relevant requirements see:

Change of control of operators and participants of exploration and mining permits and operators of prospecting permits

What is required for consent to be granted for a change of control

A change of control can only be consented if the permit holder, given the proposed change of control:

  • has the financial capability to meet their permit obligations 
  • is highly likely to comply with, and carry out the work programme and decommissioning obligations 
  • if required, an appropriate outgoing guarantee has been provided
  • is highly likely to comply with their reporting, fee and royalty payment obligations, and
  • has the capability and systems in place to meet the health and safety and environmental requirements for the activities carried out under an exploration or mining permit.  

To apply for a change of control please contact us for the relevant application form at NZPAM@mbie.govt.nz. 

Find out more information about outgoing guarantees on Outgoing guarantees

What to include with an application seeking consent to a change of control

To apply for a change of control, you will need to provide: 

  1. A completed application form, signed by all relevant persons or their authorised representatives
  2. Evidence of payment of $3,450
  3. Information about each relevant person involved in the proposed change of control, including the names of directors and shareholders or members where the relevant person is a body corporate 
  4. Details of the proposed change of control, including how and when it will occur and a copy of the agreement or other document specifying the proposed change of control, and
  5. Information and supporting documents demonstrating that the consent criteria are met, including information relating to: 
    • financial capability
    • compliance with permit and work programme obligations
    • compliance with reporting, fee and royalty obligations
    • decommissioning obligations (where relevant); and
    • health, safety and environmental capability and system.

If there is more than one relevant person involved in the proposed change of control, all relevant persons must be included in the application. For prospecting permits, relevant persons are persons obtaining a controlling interest (incoming persons). For exploration and mining permits, relevant persons include persons obtaining a controlling interest (incoming persons) and persons ceasing to have a controlling interest (outgoing persons).

If you are late making an application for consent for a change of control

If you haven’t been able to make the application 3 months before the change of control takes effect the application may be able to be received, if the decision-maker can be satisfied that you have a compelling reason.

For more information see section 41AC(2) of the Crown Minerals Act 1991 — New Zealand Legislation

Or contact us on NZPAM@mbie.govt.nz

Change of control of permit participants of prospecting permits

Notify us

You need to notify us of a change of control, rather than apply for consent to a change of control, if you are a permit participant in a prospecting permit (but not the permit operator) and you know, or ought reasonably to know, that a permit participant that is a body corporate has undergone a change of control. 

The notification must be made within three months of the change of control occurring. Contact us for the application form at NZPAM@mbie.govt.nz.  

To notify a change of control, you need to provide:

  1. A completed application form.
  2. A statement from the permit participant undergoing the change that they have the financial capability to meet their permit obligations.
  3. A copy of the agreement or document that specifies the change of control.
  4. Other supporting information about financial capability (if requested).
  5. Evidence that you have paid the fee of $3,450.

If you are notifying us, or applying for consent of a change of control on behalf of someone else, you will need to send us a completed application authority form:

APP-10 Application authority form [PDF 317KB]

Change of control of a guarantor 

Notify us

If you know, or ought reasonably to know, that a body corporate providing a guarantee for your permit obligations has undergone a change of control, you also must notify us. This applies to all permit types (prospecting, exploration and mining), and all interests (operators and participants).

The notification must be made within three months of the change of control occurring. Contact us for the application form at NZPAM@mbie.govt.nz. 

To notify a change of control, you need to provide:

  1. A completed application form. 
  2. A statement from the guarantor they have the financial capability to meet their obligations under the guarantee.
  3. A copy of the agreement or document that specifies the change of control.
  4. Other supporting information about financial capability (if requested).
  5. Evidence that you have paid the fee of $3,450.

How to pay for a change of control applications or notifications

You can pay either through OPS or by internet banking and attach a copy of the successful transaction to your application or notification, as evidence of the payment.

Account details: 

Account Holder/Payee name: Ministry of Business, Innovation & Employment

Account number: 03 0049 0001311 02 

Reference for payment: A permit participant’s name.

The Ministry of Business, Innovation and Employment’s bank account is held with Westpac bank, NZ Government Branch, 318 Lambton Quay, Wellington, New Zealand 6011.

For more information on the relevant requirements see:

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