| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 February 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 21.2599 hectares of land at Purerua Peninsula, Bay of Islands. |
| Consideration | $862,500 |
| Applicant | Mataka Residents Association Incorporated New Zealand Public (56.0%) United Kingdom Public (23.0%) Swiss Public (13.0%) Isle of Man Public (4.0%) French Public (4.0%) |
| Vendor | Mataka Limited William Norman Birnie, New Zealand (100.0%) |
| Background | The Applicant is acquiring the land in order to secure the infrastructure required for the continuing development of Mataka Station. The overseas investment will provide ongoing benefits which include the creation of further jobs, improved public access and the enhancement of new and existing farming and conservation operations over the Station. 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 | Richard Palmer Palmer Macauley PO Box 576 KERIKERI |