Overseas investment decision for case 201810211 - Kauri Forestry LP

The Applicant is part of Craigmore Sustainables Group, which currently manages forestry blocks covering approximately 16,645 hectares.

The Applicant has sought standing consent for forestry activities in order to acquire further land interests predominantly for commercial forestry purposes.

This forestry activities standing consent was granted by the decision-making Ministers in accordance with section 23A and Schedule 4(3) of the Act.

The Applicant must notify the Overseas Investment Office each time it settles a transaction under the standing consent and must comply with other conditions.

The Ministers placed the following limits on the standing consent:

• no more than 6,000 hectares of sensitive land may be acquired in total, and the maximum land area per transaction is:
• 2,500 hectares per transaction involving an acquisition of interests in land that is already used exclusively or nearly exclusively for forestry activities; and
• 500 hectares per transaction involving an acquisition of interests in land that is non-forest land (including farm land being acquired for conversion to forestry);
• there is a maximum limit of a total of 20 transactions;
• the standing consent permits acquisition of interests in land nationwide;
• the standing consent cannot be used to acquire an investment in a strategically important business; and
• the standing consent expires on 30 September 2023.