| Decision | Consent granted retrospectively Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 26 May 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in approximately 10.7895 hectares of land at 560 Haruru Road, Wainui. |
| Consideration | $29,753 |
| Applicant | Fletcher Concrete and Infrastructure Limited Various overseas persons (62%) New Zealand Public (38%) |
| Vendor | Bruce Andrew Hellyer New Zealand (100%) |
| Background | The Applicant owns a quarry in Wainui known as ‘Flat Top Quarry’ which supplies aggregate and sand to various building and roading industries in the Auckland market (refer case 201020127). The Applicant has been granted retrospective consent to regularise a leasehold interest acquired in 2005 in the land adjoining Flat Top Quarry which it also uses as part of its quarrying operations. 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 | Greg Allen Simpson Grierson Private Bag 92518 AUCKLAND 1141 |
| Retrospective penalty | n/a |