ASX-listed Carbon Conscious falls foul of NZ foreign investor rules

Mon, 03 Aug 2015

By Pattrick Smellie Aug. 4 (BusinessDesk) - ASX-listed carbon emissions abatement firm Carbon Conscious has fallen foul of the New Zealand Overseas Investment Office for using a New Zealand company to invest in sensitive rural land to speed up its plans to plant trees on the property. “While both companies appear to have attempted to delay – or forego the need for – consent, we consider that they acted on poor legal advice and did not realise they were breaking the law," said Annelies McClure, the manager of the OIO, which vets applicatio...

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