Overseas investment decision for case 202000515 - Organic Solutions Limited

This is a retrospective consent as the Applicant acquired the land in 2019 without OIO consent. After settlement, the Applicant was advised of the requirement to obtain OIO consent. The Applicant then notified the OIO that it had breached the Act.

We consider that given the breach was inadvertent, voluntarily self-reported, and resulted from substandard legal advice, it was appropriate the Applicant applied for retrospective consent to acquire the land.

The Applicant operates the land as an organic farm that produces a variety of vegetable crops each year, primarily brassicas, lettuces, cabbages, potatoes, and yams.

The Applicant requires the land because its business model is reliant on its ongoing ability to source organic vegetables for its takeaway and online organic produce businesses.

The investment is likely to result in the creation of new jobs (to operate the farm and work in the Applicant’s takeaway and online produce businesses), additional investment (in developing the land and supporting the Applicant’s takeaway and online produce businesses), and using sustainable and efficient methods of disposing excess food.

The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The applicant has also demonstrated financial commitment to the investment.