Overseas investment decision for case 201900062 - Norsewood Estate Limited

Norsewood Estate Limited

ANZFF3 Limited which is wholly owned by ANZFOF3 NZ Pty Limited which is ultimately owned by The Trust Company (Australia) Limited as trustee for the New Forests Australia New Zealand Forest Operating Fund 3 which is wholly owned by certain overseas investment funds. The New Forests Australia New Zealand Forest Operating Fund 3 is managed by New Forests Asset Management Pty Limited.

The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Overseas Investment Act 2005. 

The land will continue to be used for existing commercial forestry operations.  The Applicant’s investment plans also include:

• seeking to obtain Forest Stewardship Council certification and manage the land in accordance with best practices
• continuing to provide public access to the land, and
• continuing to protect and enhance the habitat of indigenous snails on the land.     

There are existing conditions of consent and various existing arrangements that are for specified purposes set out in regulation 29, including conditions and arrangements related to providing public access and protecting the habitat of indigenous fauna.  Conditions of consent have been imposed to ensure that Special Forestry Test requirements are met, including requiring the Applicant to continue to implement and maintain existing conditions and existing arrangements.