OIO fines forestry investors over $1m
The buyer of five forestry blocks used New Zealand-based family members to make the transactions.
The Overseas Investment Office has stung overseas forestry investors with $1.38 million in fines for using New Zealand-based relatives to invest on their behalf.
According to the regulator, five forestry blocks totalling 3600ha in Awakino, Ngāruawāhia, Awaroa, Paranui and Manganui
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