Applicant
Forest Securities Limited
Case number(s)
201310047
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date11 June 2013
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 486 hectares of land known as Taipoi I and II Forest and located adjacent to the Tinui Valley Road, Wairarapa.
Consideration$937,500
ApplicantForest Securities Limited
Estate of Willi E Roth, Canada (100%)
VendorPKF Martin Jarvie Trustees Limited
New Zealand (100%)
Background

The Applicant intends to acquire the land as a forestry investment for the production of timber.

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 of jobs
17(2)(a)(v) – Additional investment for development purposes
17(2)(b) – Indigenous vegetation/fauna
17(2)(e) – Walking access

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

More informationChris Ritchie
PO Box 2068
WELLINGTON