Land Information New Zealand media statement

22 December 2006

Submission Period Extended

The submission period for the high country pastoral leases valuation review has been extended to 15 February 2007.

In October the Government called for submissions on its response to a report on the valuation methods used to determine pastoral lease rents and tenure review transactions. Kevin Kelly, Land Information New Zealand (LINZ) General Manager Policy, said lessees and interest groups wanted extra time to respond to the review. An extension was warranted given the high interest in the review findings and the fact this was a busy time for lessees.

"The Government has asked LINZ to better understand the implications of the review for pastoral leaseholders and for the Government's high country objectives.

"The Government values the contribution lessees make to the economy and LINZ is seeking to achieve a policy approach to pastoral lease rents that is fair, reasonable and durable," said Mr Kelly.

LINZ will report back to the Minister for Land Information in April 2007.

ENDS

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