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The surprise move to make it harder for foreigners to buy New Zealand's strategic assets has raised concerns about the government's actions.
Many say the move is part of a trend of growing intervention that will result in uncertainty for investors - both local and foreign - looking to inject cash into New Zealand.
The legislative amendment rushed through on Monday night aimed at protecting strategic assets grabbed the headlines but the government also moved to close a tax loophole around oil companies to protect millions of dollars of potentially lost corporate tax.
The government was always going to have a big say on the final call on the sale of Auckland Airport but the fact it stacked the odds at the last minute is causing concern.
Business commentator Bryan Gaynor says the move is changing all the rules.
"You really can't do that if you want to have confidence in our financial markets both for New Zealand investors and offshore investors," he says.
And business correspondent Roger Kerr says for years the government has told us we need to attract foreign investment to provide capital for development but it is now demonstrating a conflicting fear of foreign ownership.
"You have to wonder what kind of signal the sudden, knee-jerk rule change gives other potential foreign investors," says Kerr.
The change to our overseas investment rules means foreign bids can now be rejected if they act to take control of strategic assets on sensitive land. The move is likely to scuttle the Canadian pension plan bid to take a 40% stake of Auckland Airport.
The government made the change by order in council - a process which means it is not scrutinised by parliament.
"They're increasingly saying well we want this outcome and we'll announce that we want to achieve it and in a wider context that again creates a sort of an uncertain climate," Pricewaterhousecoopers tax specialist Geof Nightingale says.
But the government is making no apologies for stepping in.
"I'm an Aucklander. I have got no personal enthusiasm for seeing that hugely important piece of infrastructure, strategic infrastructure, go from New Zealand. The issue is to have it properly assessed with stronger criteria," Prime Minister Helen Clark says.
But National Party leader John Key says he doesn't understand why the government has intervened and says he would have been happy for the Canadian's to take a 40% share of the airport.
"It's not a majority bid, yes it's a significant bid, yes it's an offshore owner, it's got a process it can go through and it wasn't immediately clear to me the law needed to change," Key says.
Offshore investors may also be put off by the announcement to close a tax loophole which may have seen the government lose hundreds of millions of dollars of tax revenue from oil companies.
