Introduced on May 31, the bill reverses the 2018 relatively permissive special forestry test in the Overseas Investment Act and applies the Act’s existing, but more stringent, benefit to NZ test to overseas investments that will result in converting land-use to production forestry. First reading on June 7  with all parties in favour and sent to the Finance and Expenditure Committee with an Aug 1 report back date. Reported back on Aug 1 with only minor and technical changes though MPs noted the concerns of submitters that the new definition and test would be overly complex and problematic saying this could be sorted out with proper administration. Second reading Aug 9, committee stage Aug 10 and third reading 11 with all parties in favour.

Overseas Investment (Forestry) Amendment Bill