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Further to the answer to question for written answer 32024 (2026), in respect of each of the four variations of conditions of consent granted to remedy non-compliance in the 2025/26 financial year, what was the condition breached, and was any penalty imposed under the Overseas Investment Act 2005?

Answered Question 35098 (2026)
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Asked by

Damien O'Connor

List MP · Labour Party

Question

  • Further to the answer to question for written answer 32024 (2026), in respect of each of the four variations of conditions of consent granted to remedy non-compliance in the 2025/26 financial year, what was the condition breached, and was any penalty imposed under the Overseas Investment Act 2005?

Answered by

Mike Butterick

Member for Wairarapa · National Party · Minister for Land Information

Answer

In fact, there were three variations, not four. The answer to WPQ 32024 (2026) has been corrected accordingly. In summary, one consent required the consent holder to undertake developments on the land, including a minimum level of investment, one consent required the consent holder to undertake developments on the land, including a minimum level of investment, and reaching a certain level of export receipts, and one consent defined the time period in which the transaction could be completed. No penalties were imposed.