Asset law to undergo a major review

Published: 6:55PM Saturday March 14, 2009 Source: ONE News

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The law dictating how much of New Zealand's land and strategic assets can be owned by foreign investors, is about to undergo a major review.

The decision follows concern at the Labour-led government's decision last year to block a bid by a Canadian company to buy a large chunk of Auckland International Airport.

At the time National said that intervention was politically reckless.

Prime Minister John Key says the law needs to be overhauled and admits changes could lead to increased foreign investment in New Zealand.

Details of the review will be released next week.

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