Overseas Investment Bill Should Go Further
New Zealand Historic Places Trust Information release
4 March 2005
The New Zealand Historic Places Trust has praised some aspects of the
Overseas Investment Bill in its submission to the Finance and Expenditure
Committee this week, but believes it should go further to protect New
Zealand's heritage places where those places are being considered for
sale to overseas purchasers.
Speaking before the select committee, Trust Board member Councillor Anna
Crighton welcomed the review of the overseas investment legislation: "We
have expressed concern in the past, particularly in relation to the proposed
sale of Te Kuri a Paoa/Young Nicks Head in 2002, about the little weight
historic heritage has carried in decisions about approving or rejecting
prospective purchases by overseas buyers. At first sight, the Overseas
Investment Bill now under consideration appears to be an advance on the
previous legislation."
However, the Trust noted that some of the proposed definitions and processes
fell short of the desirable level of protection for historic heritage.
"The definition of sensitive land is confined to heritage orders
and registered places under the Historic Places Act, which does not give
full coverage of historic sites, particularly those which are significant
to Maori" said Cr Crighton. "Furthermore, Ministers have discretion
to choose not to consider historic heritage value. This seems to me to
create a very unsatisfactory situation so far as the protection of historic
heritage values is concerned."
The Trust recommended the definition of sensitive land should include
land upon which an archaeological site has been recorded, that historic
heritage criteria should apply in all cases when decisions are being made
about purchases of land by overseas buyers, and that the relevant Minister
should seek a report on historic heritage criteria from the Trust when
those criteria are being considered.
Contact for further information:
Aidan Challis
Senior Policy Analyst
Tel: 04 494 8033
Email: achallis@historic.org.nz
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