Business
New Zealand Foreign Investment Fund Rules
New Zealand Foreign Investment Fund Rules.
About this update from Coats Group Plc
[{"type":"text","content":"\n \nRNS Number : 2901H Guinness Peat Group PLC 25 May 2011 \n \n\n \nGUINNESS PEAT GROUP plc\n \nANNOUNCEMENT\n \n \nIn accordance with Regulations affecting companies with shares listed on the London Stock Exchange and the Australian Securities Exchange we attach herewith for information only a copy of an Announcement made on the New Zealand Stock Exchange today.\n \n \n \nChris Healy\nCompany Secretary\nGuinness Peat Group plc\nTel: +44 20 7484 3370\n \n25 May 2011\n \n\n \n\n \nGUINNESS PEAT GROUP plc\n \nANNOUNCEMENT\n \n \nNEW ZEALAND FOREIGN INVESTMENT FUND RULES\n \n \nIn 2007, the New Zealand Government (the \"Government\") introduced a new regime for taxing offshore portfolio investments, known as the foreign investment fund rules (the \"FIF rules\").\n \nAt that time the Government announced that companies including Guinness Peat Group plc with a significant New Zealand shareholding and that met certain other criteria would be exempt from the FIF rules for five years. The temporary exemption is set to expire at the end of the 2011/12 income year. This exemption was to provide qualifying companies sufficient time to consider shifting their headquarters to New Zealand.\n \nThe Government has now indicated that it plans to let the exemption expire at the end of the 2011/12 income year.\n \n \n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nEnquiry details are:\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nNew Zealand media:\n\n\nGeoff Senescall on:\n\n\n+64 9 309 5659\n\n\n\n\nAustralian media:\n\n\nAndrew Stokes on:\n\n\n+61 2 8298 6100\n\n\n\n\nUK media:\n\n\nKevin Smith on:\n\n\n+44 20 7282 1054\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\n \n \nChris Healy\nCompany Secretary\nGuinness Peat Group plc\nTel: +44 20 7484 3370\n \n25 May 2011\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCPGUWPAUPGGCA\n ","length":4574,"tagName":"div"}]