Calvin Almond is a wealthy United States-based investor. Calvin wishes to buy a 100-hectare farm near Dunedin that he can move to in the event of civil unrest in the USA.

Calvin is concerned that he may not be able to buy the farm directly because, in 2020, a US court fined him a civil penalty of $3 million for insider trading.

However, Calvin's daughter Daphne is a New Zealand resident. He has been advised that, if he forms a partnership with Daphne they can buy the farm.

Question (using new zealand legislation)

a) Explain to Cavlin whether he is likely to be allowed to buy the farm either alone or in partnership with Daphne.