31 May 2005

Overseas Investment Bill

Deputy Prime Minister Michael Cullen confirmed today that provisions in the Overseas Investment Bill concerning the compulsory acquisition of marginal strips had been removed to ensure a parliamentary majority for the legislation.

The provisions related to land along the coast and internal waterways and were were inserted by the select committee to protect public access.

“The issue of access will be dealt with on a case by case basis as part of the consent process rather than as a statutory and automatic provision,” Dr Cullen said.

ENDS

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