Changes to the Overseas Investment Act 2005 will come into force on 22 October 2018. The amendments have implications for overseas persons looking to purchase residential land, and also forestry and horticulture land. This article will focus on interesting changes for the overseas purchase of forestry land.
The National Environmental Standards for Plantation Forestry (NES-PF) set out national regulations to manage the environmental effects of forestry.
The National Environmental Standards (NES) are regulations made under the Resource Management Act 1991 (RMA) which:
- Set out the technical standards, methods or requirements in relation to matters under the RMA; and
- Provides nationwide consistent rules by setting planning requirements for certain specified activities.
The effect of NES is that it prevails/trumps both district and regional plan rule except in situations where the NES-PF specifically allows more stringent plan rules.
The Labour-NZ First coalition government has committed to planting 1 billion trees over 10 years. That sounds like a massive number, but it is achievable.
There are a few logistical stumbling blocks to get around first, like finding the land and the manpower to plant the trees. But these problems can be overcome if you have enough money to throw at them.
The price of carbon credits in the New Zealand Emissions Trading Scheme has hit the $18 mark for first time since late 2011. Traders and some foresters well may be licking their lips in anticipation of another cash boost courtesy of this beleaguered government scheme. But is there still money to be made from carbon trading?
A decision of the Environment Court discussed the difficult position a sharemilker found himself in when working on a farm with an effluent system failure not of his making.