| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 1 September 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 337.5956 hectares of land at Franklin Road and Route 52, Ti Tree Point, Dannevirke. |
| Consideration | $1,225,000 |
| Applicant | Ernslaw One Limited Tiong Family, Malaysia (100%) |
| Vendor | Sunrise Agriculture Limited Ian Francis Millner, New Zealand (38.89%) Alison Joy Franklin, New Zealand (38.89%) James Peter Millner, New Zealand (22.22%) |
| Background | The land is being acquired for conversion into forestry. The Applicant intends to establish a pine forest on the land. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Deirdre Norris Glaister Ennor PO Box 63 AUCKLAND |