The New Government’s Worst Legislation So Far
Parliament’s Finance and Expenditure Committee sat for most of last week, including all day Friday in Auckland. We’re not complaining, but the reason is interesting. The Overseas Investment Amendment Bill has received 220 submissions, mostly very substantial and from the business community, who are outraged at this bill.
What it Does
Currently, any overseas person or organization with more than 25 per cent overseas ownership has to jump