Terms and queries about the legal aspects of forestry investment
A right granted by the owner of land to someone else to establish and/or maintain and harvest a forest. Forestry Rights are commonly registered against the titles to the relevant land under the Forestry Rights Registration Act 1983.
Under the Limited Partnerships Act 2008, the General Partner (GP) is the person is responsible for the day-to-day management of the Limited Partnership and its business. This management responsibility has been contracted out by the GP to Forest Enterprises Limited as the Investment Manager. However, limited partners retain control by holding shares in the General [...]
The Governing Documents are the deeds, agreements or instruments that constitute or govern Forest Enterprises' Managed Investment Schemes for the purposes of the Financial Markets Conduct Act 2013. These are available to read and download from the Scheme Register at www.companiesoffice.govt.nz/disclose by searching under ‘Search Schemes’.
The investment structure for most Forest Enterprises’ investments is a Limited Partnership (LP), comprising multiple Limited Partners who are the investors, along with one General Partner (GP). Read this helpful guide on Limited Partnerships from law firm DLA Piper New Zealand.
This is an investment structure used by some of Forest Enterprises’ historic forest investments. An ordinary partnership is the relationship between persons carrying on a business in common with a view to profit. Unlike a company, an ordinary partnership is not a separate legal entity. Partners in an ordinary partnership therefore have unlimited personal liability [...]
See Deed of Partnership.
The name of the registered disclosure document produced by Forest Enterprises for prospective investors as required under New Zealand’s Financial Markets Conduct Act 2013 for new issue investments. The Product Disclosure Statement replaces the Prospectus and the Investment Statement that were previously required under the Securities Act 1978. Visit the FMA website here for a helpful [...]
A statement of investment policy and objectives (SIPO) is a document that sets out the investment governance and management framework, philosophy, strategies and objectives of a Managed Investment Scheme (MIS) and its investment funds or portfolios. Under the Financial Markets Conduct Act 2013, all Managers must ensure there is a SIPO for each MIS they [...]
In relation to this Managed Investment Scheme, the Supervisor is appointed to look after Investors' interests under the Scheme, per the Financial Markets Conduct Act 2013 (FMC Act). The Supervisor acts on behalf of the Investors to supervise the performance of the Manager and ensure it complies with its obligations under the FMC Act and the [...]