Applicant
bcIMC URT Trustee Inc. as bare trustee for the bcIMC URT Investment Trust
Case number(s)
202300118
Decision date
Type
Decision
Decision

Consent granted 
Section 18A Overseas Investment Act 2005

Decision maker Toitū Te Whenua Land Information New Zealand
Decision date 26 April 2023
Pathway(s) Significant business assets only
Investment Acquisition of up to 9.99% of the units in the Cedar Pacific Student Accommodation Trust (SAT)
Asset value Withheld under section 9(2)(b)(ii) of the Official Information Act 1982
Applicant

bcIMC URT Trustee Inc. as bare trustee for the bcIMC URT Investment Trust
Canada (100.00%)

Vendor Scholar Holdings Pty Ltd (ACN 602 484 113) in its capacity as trustee and Australia Education Holdings B.V
Switzerland (50%)
Australia (50%)
Background

The Applicant was granted consent under the Act to acquire up to 9.99% of the units in the Cedar Pacific Student Accommodation Trust (SAT) which will result in the Applicant increasing its interest from 90.1% to 100%.

The Applicant is wholly owned by the British Columbia Investment Management Corporation (BCI), (a corporation and trust company established under the Pension Plans Act (British Columbia)). BCI provides discretionary investment management services to its clients, being British Columbia public sector pension plans, public trusts, special purpose accident and insurance funds and other British Columbia public sector entities.

More information

Ashton Goatley
Webb Henderson
P O Box 105-426
Auckland