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Only the Proposal section of this Cabinet paper is extracted below in HTML. If you require a full HTML version please contact [email protected] and cite ENV-22-SUB-0001 as a reference.
Cabinet Paper ENV-22-SUB-0001: Overseas Investment Act Forestry Review: Removing Forestry Conversions from the Special Forestry Test#
1This paper seeks agreement to:
1.1remove forestry conversions from the Overseas Investment Act 2005 (the Act) special forestry test (and specify that forestry conversions instead go through the revised Benefit to New Zealand Test) and commence legislative change to give effect to this decision,
1.2amend the Overseas Investment Act Forestry Review (Forestry Review) Terms of Reference (Annex One) to include forestry conversions within the scope of the Forestry Review, and
1.3make minor/technical changes to the Act to improve the operation and effectiveness of the forestry-related provisions of the Act, consistent with the Forestry Review Terms of Reference.
2Consistent with paragraph 2.39 of the Cabinet Manual, I submit this paper with the knowledge and approval of the Minister of Finance.