12 Apr 2005

Interest in Cooks in unit titles bill

2:06 pm on 12 April 2005

More than 70 copies of the Unit Titles Bill in the Cook Islands have been distributed in Maori in the outer islands and Rarotonga.

The bill is aimed at giving a Wellington-based hotel developer, Tepaki Group, a way of getting investors for its hotel projects in Vaimaanga in Rarotonga and Ootu in Aitutaki.

If passed the bill will allow investors to buy units and hold ownership titles of strata-styled buildings without being a lessee of the land.

Critics say the bill could change land ownership.

Because of public interest in the bill, the date for close of submissions was extended until the end of this month.

The Cook Islands News reports that to date, 18 written submissions have been received.