| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 October 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1.0534 hectares of land at Tuki Tuki Road, Hastings. |
| Consideration | $120,000 |
| Applicant | Oy Ocasor Ab Fredrik Vilhelm Rosenlew, Finland (57.42%) Wilhelm Sebastian Rosenlew, Finland (42.58%) |
| Vendor | Hastings District Council New Zealand (100%) |
| Background | The Applicant owns an 862 hectare property situated at Tuki Tuki Road, Hastings which is predominantly planted in pinus radiata forestry established between 1992 and 1996. The Applicant's land while having a road frontage does not have a formed access. The proposed acquisition will provide a secure access to the Applicant's forestry block. 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 | Andrew Young Wynn Williams & Co PO Box 4341 CHRISTCHURCH 8140 |