The Overseas Investment Office says lawyers acting for non-New Zealand citizens should fully familiarise themselve with the requirements of the Overseas Investment Act 2005.

In the latest issue of its newsletter The PeriOIOdical, the Office says it recently issued a warning to a legal practitioner (Russell Mawhinney) in relation to incorrect legal advice on the Act.

"We take this opportunity to remind practitioners when dealing with people who are not New Zealand citizens, who are buying land, to fully familiarise themselves with the requirements of the Act."