Applicant
Carbon Conscious Holdings NZ No.3 Limited
Case number(s)
201210015
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date31 May 2012
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 343.9828 hectares of land known as Owendale Farm located at Alfredton, Wairarapa.
Consideration$830,000
ApplicantCarbon Conscious Holdings NZ No.3 Limited
Australia (100%)
VendorEugene Cornelius Breukers & Maureen Winifred Breukers
New Zealand (100%)
Background

The Applicant proposes to plant forest on the majority of the land for the prime purpose of generating carbon credits that can be traded under the New Zealand Emissions Trading Scheme.

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

Overseas Investment Regulations 2005
28(e) – Previous investments
28(f) – Advance significant government policy or strategy

More informationGeoff Thompson
Duncan Cotterill (Wellington)
PO Box 10-376
WELLINGTON