Applicant
MA Orchards Limited
Case number(s)
201320054
Decision date
Type
Decision
DecisionConsent granted retrospectively
Section 12(a) Overseas Investment Act 2005
Decision date18 August 2014
Investment

An overseas investment in sensitive land, being the Applicant's acquisition of:

  • a freehold interest in approximately 18.9000 hectares of land at Kerrytown Road Timaru; and
  • a freehold interest in approximately 16.5921 hectares of land at 327 Divan Road, Timaru.
Consideration$1,610,000
ApplicantMA Orchards Limited
Andrew David McGrath, New Zealand (76.0%)
Walter George Meyer, United States of America (8.0016%)
Bruce Douglas Allen, United States of America (7.9992%)
Christopher Linder Clark, United States of America (7.9512%)
Gregory DeCicio Clark, United States of America (0.048%)
Vendor

Andrew McPherson Hogg & Tamara Anne Hogg
Tamara Anne Hogg, New Zealand (50.0%)
Andrew McPherson Hogg, New Zealand (50.0%)

Alix Brendon McMaster & Deborah Jane McMaster
Deborah Jane McMaster, New Zealand (50.0%)
Alix Brendon McMaster, New Zealand (50.0%)

Background

The Applicant has sought retrospective consent for the acquisition of the land which has been developed as an apple orchard. 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
17(2)(a)(i) – Jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Added productivity
17(2)(a)(v) – Additional investment for development purposes

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(f) – Advance significant Government policy or strategy
28(i) – Economic interests
28(j) – Oversight and participation by New Zealanders

More informationKen S Grave
Gresson Dorman & Co
PO Box 244
TIMARU 7940
Retrospective penalty$10,000