| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 17 March 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 7.3150 hectares of land at 106 Manawaora Road, Dicks Bay, Russell. |
| Consideration | $1,430,000 |
| Applicant | Rohit Malhotra and Tihunaz Mehta India (100%) |
| Vendor | Kevin Hopping, Cheryll Hopping and KCH Trustees Company Limited as trustees of the KD and CA Hopping Family Trust New Zealand (100%) |
| Background | The Applicants intend to implement a pest-control programme on the property and to make a series of donations to the Guardians of the Bay of Islands Inc., which co-ordinates Project Island Song (an ecological restoration project) in the eastern Bay of Islands. 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 | Sam Nelson Lane Neave P O Box 701 Queenstown |