| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 22 December 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of:
|
| Consideration | $530,000 |
| Applicant | Blackfish Limited Simon Thomas Harvey, Australia (21.71%) Duncan James Bull, Australia (21.645%) Michael James Sleigh, New Zealand (19.998%) Timothy Paul Allan, New Zealand (10.002%) Christopher Peter Rose, Australia (7.215%) Peter Francis Rose, Australia (7.215%) Joe Nakat, Australia (7.215%) David Carson Murray, New Zealand (1.0%) Frederick David Justin Murray, New Zealand (1.0%) Christopher David Milne, New Zealand (1.0%) Humphrey John Davy Rolleston, New Zealand (1.0%) Richard George Nelson Rookes, New Zealand (1.0%) |
| Vendor - 498 Kowhai Road | Michael James Sleigh New Zealand (100%) |
| Vendor - SHW 73 | Department of Conservation The Crown, New Zealand (100.0%) |
| Background | This investment is one of a series of applications to enable further development of Porters Ski Area (Porters) in Canterbury. The development plan for Porters includes the construction of a new alpine village which is believed to be the largest current proposed tourism development in New Zealand. This application is required to enable a land swap agreement between Blackfish Limited and the Department of Conservation (DOC). Under the agreement, DOC will exchange 21 hectares of the land currently used for Porters for 15 hectares of ecologically valuable land adjoining Lords Bush Reserve (which is being acquired by Blackfish Limited from Michael Sleigh). The land swap will enhance the ecological viability of Lords Bush Reserve and allow the continued development of Porters. 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 | Mary Digiglio Swaab Attorneys GPO Box 35 Sydney 20001 |
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