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本帖最后由 bungyjumping999 于 2018-6-22 16:17 编辑
They originally exempt this development project (see below original script from the bill).
Then national party argued it is favouratism (cronyism) to Labour's friend, then they scrap it off. This project is not longer exempted. Foresee this project will die, as they are selling $4 million per housing lot to wealthy overseas people. Iwi and private developer owned's project.
The bill never allowed exemption for high end property, not before, not now.
________________________________________________________________________________________________
5 Exemption for Te Arai property development
(1)
A transaction does not require consent to the extent that it will result in an overseas investment in sensitive land that is the acquisition of an interest in residential (but not otherwise sensitive) land within the Te Arai property development.
(2)
The Te Arai property development means the area comprising all of the land identified as follows:
(a)
Lots 1, 2, 3, and 4 DP 138523:
(b)
Lot 1 DP 138524:
(c)
Lots 1, 2, 3, and 4 DP 138522.
(3)
This clause ceases to apply to transactions entered into on or after the 15th anniversary of the date on which this clause commences.
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