Overseas investment decision for case 200920054 - William John Tinning | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	1 October 2009
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 18.1110 hectares of land at McFelins Rd, Cromwell.
Consideration	CONFIDENTIAL
Applicant	William John Tinning United States of America (100.0%)
Vendor	Gary Anthony Anderson and Jacqueline Marie Rose-Anderson New Zealand (100.0%)
Background	The Applicant intends to plant 5 to 6 hectares of the Land in a combination of apricots and cherries, with organic apples also being a future possibility. It is expected that the first harvest will be within three years of planting. 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) – Creation/Retention of jobs 17(2)(a)(iii) – Increased export receipts 17(2)(a)(v) – Additional investment for development purposes 17(2)(a)(vi) – Increased processing of primary products Overseas Investment Regulations 2005 28(c) – Affect image, trade or international relations
More information	Elliot Goldman Macalister Todd Phillips PO Box 653 QUEENSTOWN