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THE FOREIGN INVESTMENTS ACT
3. "Foreign investment" is understood to mean every kind of investment in the territory of the Hutt River Province Principality under the direct or indirect ownership of the foreign investor, which consists of:
4. "Revenue" is understood to mean the amount of money that arises from or related to an investment, including profit, dividends, interest, recapitalization, management fees, technical assistance fees, or other fees or contributions in-kind.
II. General Provisions
Foreign investment is prohibited in the following areas:
§4 Protection from expropriation and nationalization
No property or foreign investment of any description shall be
expropriated or nationalized neither directly or indirectly, and no
interest in or right over property or foreign investment of any
description of an foreign investor shall be compulsorily acquired, except
for public purposes determined by law.
A company with foreign investment, has the right to employ Hutt River
III. The Proposal
§6 Submitting the Proposal
Foreign investment proposals shall be submitted to the competent body, accompanied by the documentation necessary for the (illegible) and legal characterization of the investor and the planned investment.
§7 Evaluation of the Proposal
Upon receipt of the proposal, the Cabinet shall have a period of ninety days in which to evaluate it and give its opinion. During that peiod, the Cabinet shall analyse and evaluate the proposal.
§8 Correction of the Proposal
In the event that the submitted proposal is either deficient or insufficient in form, the Cabinet shall notify the applicant, fixing a time limit for the proposal to be corrected or revised.
§9 Rejection of the proposal
The rejection of a proposal is within the competence of the Cabinet.
§10 Complaint against the Rejection Decisions
Complaints against rejection decisions that have been made under the terms of §9, shall be made to the hierarchically higher authority concerned, and shall be filed within a period of 30 days.
§11 Approval of the proposal
Approval shall take the form of an aggreement between the investor and the Government of the Hutt River Province Principality.
IV. Transfer of funds
Foreign investors have the right to transfer out of the territory of the Hutt River Province Principality all assets related to a foreign investment, including as follows:
Foreign investors will have the right to make transfers out the
territory of the Hutt River Province Principality to a freely convertible
currency calculated at the prevailing market rate on the date of the
transfer, with respect to spot transactions in the currency to be
V.Violation of investment terms
Without prejudice to the provisions of other legal documents, acts of
non compliance, malicious or negligent with the legal obligations to which
the foreign investor is liable, constitute violations.
Without prejudice to other sanctions specifically provided for by law the violations referred to in §13 shall be subject to the following sanctions:
Failure to implement the project within the time limits set for it in the authorization or extension is liable to the sanction provided for in line b) of the previous section.
§15 Decisions and Appeals Regarding Sanctions
Foreign investors must obligatorily be heard prior to the application
of any sanctions. In determining the sanction to be applied, all
circumstances surrounding the violation or degree of culpability, the
intended benefits and the benefits obtained by committing the violation/
and the damage resulting there from, must be taken into consideration.
After consultation with the Cabinet, the Minister may, by statutory instrument, provide for:
(a) anything which by this Act is required or permitted to be