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Posted on 30-6-2004
Roger
Award 03
From CAFCA
The Japanese forestry company, Juken Nissho, won the 2003 Roger Award
for the Worst Transnational Corporation operating in Aotearoa/New
Zealand. The Judges' Report detailing why they picked it as the winner
can be read online at
on the Views, Analyses and Research page and follow the Roger Award
links.
One of the very few safeguards in New Zealand's laughably weak
repertoire of foreign investment laws (soon to be rendered even weaker
by the Government's current review of the foreign investment regime) is
that the persons exercising control over a foreign company be of good
character. Note - not the company itself, but the individuals
controlling it.
So, in March, we wrote to the Overseas Investment Commission, sending
them a hard copy of the Judges' Report, and saying:
"We believe that the material contained in this Report, plus the
material from which the judges made their decision (including the
voluminous and damning Occupational Health and Safety Service audit of
Juken Nissho) indicates that 'the persons who exercise control over the
applicants' are not of good character, in that they have allowed this
disgraceful state of affairs to come about, particularly the repeated
violations of New Zealand’s health and safety laws. In the process,
Juken Nissho has acquired a most impressive criminal record, which is
detailed in the Report".
We specifically asked the Commission why it had approved two new
applications from Juken Nissho, in January, and, in light of the
evidence we had presented, asked the Commission to revoke those two
approvals.
Today we got our answer. "The Commission has considered the information
you have provided to the extent it is relevant to the Overseas
Investment Act and Regulations. Following its investigation into the
issues raised the Commission remains satisfied that Juken Nissho Limited
has previously and continues to fulfil the criteria as set out in
section 12B(2)(a)-(c) of the Overseas Investment Act 1973 and in
particular that the persons who exercise control over the company
continue to be of good character".
So that's that, then. Our foreign investment laws in action. Which is
why it is critical that people demand that the Government use this
current review to toughen not weaken the relevant laws and processes.
A leaflet detailing the review, CAFCA's analysis of it, and what you can
do about it, can be read online at
Foreign Investment in New Zealand page.
We have updated that leaflet to include what we now know about the
review (from leaked details) and the new deadline. That updated version
is not yet online. If you'd like a hard copy or copies, then contact us
and send us your postal address. If you're ordering several hundred (or
more), we'd appreciate a koha for the copying and postage costs
involved.
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