News | Business
12 May 2021 10:28
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    An overseas family's been slapped with nearly 1.4-million dollars in fines and legal fees - for breaching the Overseas Investment Act

    An overseas family's been slapped with nearly 1.4-million dollars in fines and legal fees - for breaching the Overseas Investment Act


    The High Court in Auckland handed down the penalty, after the speculators bought five forestry blocks worth nearly 13-million dollars.

    The land - purchased in areas all around the North Island and top of the South Island - was acquired under several company names.

    The family used relatives based in New Zealand to invest on their behalf.

    The court decided to discount the penalty... because the offenders admitted to the breaches, and disposed of the properties.

    © 2021 Newstalk ZB, NZCity


     Other Business News
     12 May: New Zealand and Australia are charting different courses -- on their way out of the Covid-19 pandemic
     12 May: Some North Island areas could be fully solar powered within a year
     12 May: A former finance minister says borrowing money to stimulate economies now, could create even bigger problems further down the track
     11 May: Record investment is tipped to be in Australia's Federal Budget, that's released tonight
     11 May: The Social Development Ministry's being urged to crack down on misuse of the Wage Subsidy Scheme
     11 May: The owner of a US lab's under heat for falsifying SPF test results for sunscreens sold in New Zealand
     11 May: The Prime Minister's keeping the door ajar for public servants to have step-based contracts - with automatic pay raises
     Top Stories

    RUGBY RUGBY
    Changes have been announced for next year's women's Rugby World Cup More...


    BUSINESS BUSINESS
    New Zealand and Australia are charting different courses -- on their way out of the Covid-19 pandemic More...



     Today's News

    Entertainment:
    Thomas Rhett is to become a father for the fourth time 10:16

    Rugby:
    Changes have been announced for next year's women's Rugby World Cup 10:07

    Entertainment:
    The Duchess of Cornwall has enjoyed “a half hug” with her grandchildren 9:46

    Law and Order:
    The fact by-standers were able to help victims in the Dunedin knife attack, show why knowing first aid is so important 9:27

    Entertainment:
    Ronnie Wood refused to "dwell on any negatives" while battling cancer for the second time 9:16

    Soccer:
    Stability in defence is being hailed as the key to Manchester City's latest Premier League football title triumph 9:07

    Entertainment:
    John Legend has praised Chrissy Teigen for coming out of a "testing" year even "stronger" 8:46

    Sailing:
    Sailing's Finn Gold Cup - and New Zealand's qualification spot for the Tokyo Olympics - will come down to the final day off the coast of Portugal 8:37

    Entertainment:
    Joe Jonas paid a glowing tribute to Sophie Turner to mark US Mother's Day on Sunday (09.05.21) 8:16

    Business:
    New Zealand and Australia are charting different courses -- on their way out of the Covid-19 pandemic 8:07


     News Search






    Power Search


    © 2021 New Zealand City Ltd