|Date||12 July 2007|
|Offeror/applicant||Morgan (Paul James and Glenda Jean) of Australia|
|Ultimate applicant beneficial ownership||100 percent -Australia|
|Beneficial overseas ownership|
|- Asset current||0 percent|
|- Asset proposed||100 percent|
|- Share current||N/A|
|- Share proposed||N/A|
|Offeree(s)/seller(s)||Moreton (Joseph Ashley & Caroline Rose) & Knapps Lawyers Trustee Co.|
2004 (No.2) Ltd as trustees of the JA &CR Moreton Family Trust of New Zealand
|Business activities||Agriculture - Casual Grazing|
Agriculture - Native Bush
|Details of land involved||30.923 hectares of freehold situated at 301 Owen Valley East Road, Murchison being CT NL125/203 (Nelson Registry).|
|Consent sought||To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area.|
The application has been approved as it met the criteria.
The Overseas Investment Office is satisfied that the Applicants have business experience and acumen relevant to and are demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.
Outline of Proposed Development:
The Applicants will consolidate their assets into Australia as an interim measure to transferring the assets to New Zealand. During this process the Applicants will not live full time in New Zealand. The Applicants intend to reside in New Zealand permanently by mid 2008. The Applicants have purchased furniture for the house, and intend to purchase motor vehicles and open bank accounts on their next visit to New Zealand.
Rationale for Proposed Development:
P O Box 279