12 Mar 2018
GALANI v CHIEF EXECUTIVE OF THE MINISTRY OF BUSINESS INNOVATION AND EMPLOYMENT [2018] NZHC 383
- Citation
- [2018] NZHC 383
- Court
- High Court
The Specialist lawfully declined to treat funds transferred from accounts other than the nominated Emirates NBD account as satisfying the nominated capital requirement because the Instructions require assessment of nominated funds for beneficial ownership and lawful acquisition; although the Specialist erred in focusing unduly on absence of final consents rather than the reasonableness of steps taken, on the material before her it was open to her to conclude the applicant had not taken reasonable steps to establish the property development business by the end of the start‑up stage; accordingl…