Lawyers told to study Overseas Investment Act

The Overseas Investment Office has already took action against a practitioner

Lawyers told to study Overseas Investment Act
The Overseas Investment Office (OIO) is advising lawyers acting for non-New Zealand citizens to study the requirements of the Overseas Investment Act 2005.

The office, in its latest “The PeriOIOdical” newsletter, said that it has already issued a warning to one legal practitioner about incorrect legal advice regarding the act.

“Some people will have seen that the Office issued a warning to a practitioner in relation to incorrect legal advice on the Overseas Investment Act,” the OIO wrote in the newsletter. “We take this opportunity to remind practitioners when dealing with people who are not New Zealand citizens, who are buying land, to fully familiarise themselves with the requirements of the Act.”

In October, the OIO warned Queenstown lawyer Russell Mawhinney about incorrect advice about the acquisition of sensitive land. He cooperated with the office and acknowledged his errors.


Related stories:
Queenstown lawyer warned over providing incorrect legal advice
These 10 factors will drive disputes in 2017

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from NZ Lawyer.

Recent articles & video

ASB disputes head joins Lowndes Jordan partnership

Former Simpson Grierson partner named High Court judge

International document bundling software developer enters NZ legal market

HFW Singapore lures master mariner from Reed Smith

Two make partner at Simpson Grierson

Buddle Findlay helps Fiji government-owned energy body to go private in $830m deal

Most Read Articles

Two make partner at Simpson Grierson

Mackenzie Elvin associate: ‘People remain at the focus of our business’

MinterEllisonRuddWatts helps keep mill afloat in acquisition deal

Buddle Findlay helps Fiji government-owned energy body to go private in $830m deal