NZ No Bolt Hole From Northern Hemisphere Problems
New Zealand No Bolt Hole From Northern Hemisphere Problems
"NCWNZ welcomes the Government’s announcement to review the Overseas Investment Act 1973", stated Beryl Anderson, National President of National Council of Women of New Zealand (NCWNZ). "Our members were concerned that foreign owners were treating New Zealand as a ‘bolt hole’, far away from the problems and issues of the Northern Hemisphere."
At NCWNZ’s recent National Executive Meeting, delegates from throughout New Zealand voted for a review of existing legislation to prohibit any further sale of land into foreign ownership.
"Ownership of land incorporates cultural and historical responsibilities", said Beryl Anderson. "Such responsibilities become apparent when owners take an active interest in the land and become aware of the community they live in".
The NCWNZ delegates indicated their concern regarding access to the coastline, mountains and waterways, and their support for preserving cultural and historical values. Delegates also believed that some non-resident, foreign owners did not always have the commitment to or understanding of the values of this country.
“The sale of Young Nicks Head had been identified
by some delegates as illustrating the need for tougher
regulations”, said Beryl Anderson. “Our membership would
certainly encourage the Government to either better equip
the Commission to protect public interests, or to review the
existing legislation with a view to identifying the gaps and
draft amendments accordingly. This situation should be
resolved with some urgency.”