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Archive: 2018

  • Changes to Overseas Investment Act

    3 September 2018

    Changes for overseas persons purchasing residential land are imminent.The Overseas Investment Amendment Bill (OIA Bill) passed its final reading in Parliament on 15 August 2018. It is likely to come into force soon: in or around October 2018.The OIA Bill introduces a new category of sensitive land, which overseas persons will require Overseas Investment Office (OIO) consent to purchase. This new category of sensitive land is “residential land”. And, residential land is defined as land that has a property category ...

  • Regulation of Companies – Proposed changes and consultation

    3 September 2018

    A number of changes to the law regulating companies are being considered by the government driven by changes in people’s behaviour in their use of technology and people’s increasing concerns about individual privacy.One such initiative is the introduction of an omnibus bill Regulatory Systems (Economic Development) Amendment Bill (“Bill”), which contains, amongst others, proposed amendments to the Companies Act 1993 (“Act”).One of the changes to the Act the Bill is seeking to make is to enable notices, statements and reports ...

  • Employment: Increased Penalties and Awards

    3 September 2018

    In April 2016, legislation changes were introduced, which intended to strengthen the enforcement of employment standards. The aim of the changes was to ensure that breaches of employment standards, such as paying minimum wages, holiday entitlements, and keeping proper wage and time records, are dealt with appropriately. The changes also aimed to provide an effective deterrent while trying to avoid imposing unnecessary compliance costs on employers. The amendments increased maximum penalties in the Employment Court from $10,000 to $20,000 for an individual ...

  • ACP Cladding and the Suspension of CodeMark Product Certification

    3 September 2018

    In the aftermath of the Grenfell Tower disaster, there has been a renewed focus on the types of cladding used on buildings in New Zealand. This is because the use of Aluminium Composite Panel (ACP) cladding was considered to be a major factor in the speed and spread of the Grenfell Tower fire.Essentially, ACP cladding is a sandwich of two thin aluminium sheets with a binding core made up of polyethylene and/or a mineral combination. ACP cladding is popular because ...

  • Work visa applications for overseas employees and employment law requirements

    3 September 2018

    Employers should be aware of the interplay between immigration requirements and employment law requirements when recruiting from overseas. This is important given the current shortfalls in certain sectors of skilled labour in New Zealand, especially in the construction sector.Often, there will be immigration requirements for an acceptable employee to obtain a work visa so they can work lawfully in New Zealand. For example, there are requirements that an offer of employment is sustainable, full-time, and for a certain level of ...

  • Getting Paid – Make Sure You Hold the Deposit

    3 September 2018

    As agents are aware, when you hold the deposit and the agreement for sale and purchase is declared unconditional, the standard ADLS/REINZ agreement will allow you to deduct your commission – no risk.However, what happens when you allowed the deposit to be held by a third party, or it was a term of a bespoke agreement? In this case, if you are not paid, you must take legal action. To avoid that, always make sure the agreement provides that you ...