7 Aug 2012
TIROA E & TE HAPE B TRUSTS V CE LAND INFORMATION NEW ZEALAND COA CA88/2012
- Citation
- openlaw-31773fb8_5073_472c_8e75_ffc944b43e13.pdf
- Court
- Court of Appeal
Section 16(1)(a) does not require hands‑on industry‑specific expertise; it requires business experience and acumen that is relevant to the proposed investment which, for a substantial multi‑farm acquisition, can include general entrepreneurial and investment experience and may properly be assessed together with proposed contractual arrangements with experienced operators; given the material before the OIO and Ministers they were entitled to conclude the controlling individuals had relevant experience and acumen and had sufficient information to do so; appeals dismissed.
- Overseas investment act 2005 interpretation
- Business experience and acumen criterion (s 16(1)(a))
- Ministerial decision‑making and evidence
- Adequacy of information for review
- Benefit assessment (s 16(1)(e))
- Remedies and costs