Decision Summary - The South Side Trust NZ
| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 3 June 2009 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 4.9588 hectares of land at 22 Albany Lane, Havelock North. |
| Consideration | $1,800,000 |
| Applicant | The South Side Trust NZ Australia (100.0%) |
| Vendor | Bryan and Noela Austen-Smith New Zealand (100.0%) |
| Background | The Applicant is a discretionary trust. Peter John Whitney and Marnie Anne Griffith, both Australian citizens, are the settlors, trustees and discretionary beneficiaries of the trust. The Applicant intends to purchase a lifestyle block to be used by Peter Whitney and Marnie Griffith as their principal place of residence in New Zealand, as they intend to reside in New Zealand indefinitely. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. |
| More information | Carolyn Cameron Burton & Co PO Box 8889 AUCKLAND |
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