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“Substantial and identifiable” test shoots down Lochinver Investors

The relevant Ministers under the Overseas Investment Act 2005 (the Act) recently declined consent to the NZ$88 million deal by Chinese owned Pure 100 Farm Ltd, to purchase Lochinver Station, near Taupo.  The decision was reached on the grounds that the purchase of Lochinver Station would not meet a “substantial and identifiable” benefit to New [...]

October 19th, 2015|Categories: Legal Developments|Tags: |

FMC Act Designation and Exemption

The Financial Markets Authority (the FMA) has recently released a consultation paper (28 September 2015) seeking views on whether corporate vehicles set up by property developers to manage the costs associated with communal facilities in real property (such as access ways, lifts, or common garden areas), should be regulated under the FMC Act. The FMA’s [...]

October 19th, 2015|Categories: Legal Developments|Tags: , |

Companies Act Update

The Companies Amendment Act 2014 introduced a number of changes to the Companies Act 1993.  One of these changes is that all New Zealand incorporated companies must have at least one director that either lives in New Zealand, or lives in an “enforcement country” and is also a director of a company incorporated in that [...]

October 19th, 2015|Categories: Legal Developments|Tags: , , |