Overseas Investment Office Seeks More Information on Natural Dairy (NZ) Holdings Ltd Application

1 April 2010: Media release

The Overseas Investment Office (OIO) today confirmed it has returned the application by Natural Dairy (NZ) Holdings Limited for the purchase of land to the company’s solicitors for further information.

“It is a standard practice for the OIO to perform an initial assessment of the level of information provided with any application and to check the correct fee has been provided,” says Annelies McClure, Manager of the Overseas Investment Office.

“If an application doesn’t meet this initial assessment, it is returned to the applicant for further action.”

Ms McClure emphasised that this is not a substantive assessment of the merits of the application but is an initial check of whether sufficient information has been provided that would allow a substantive assessment to be made.

“In this instance, our check of the application shows further information is required and that the correct fee has not been paid.”

When sufficient information is provided with an application and the correct fee paid, the OIO registers it and starts processing the application. The OIO aims to make decisions on high quality, straightforward applications, where no third party consultation is required or special land is involved, within 50 working days of the date of registration.

There is no statutory timeframe within which an application for consent must be decided.

Find more information about the Overseas Investment Office and application criteria and processes.

Media queries: Justine Gilliland, Manager Strategic Communications, Ph (04)498 3844 or 027 332 5246, email media@linz.govt.nz.