DIRA Bill Would Benefit The Dairy Sector Effectively In The Forthcoming Years

  • Jul 24, 2020 NZST
  • Team Kalkine
DIRA Bill Would Benefit The Dairy Sector Effectively In The Forthcoming Years

The Dairy Industry Restructuring Amendment Bill (DIRA) amended legislation passed approximately 20 years ago to facilitate the creation of Fonterra Co-operative Group Limited (NZX:FCG).

Furthermore, DIRA encompassed measures to foster the efficient operation of dairy markets in the Kiwi nation and budge milk up the value chain.

The Bill highlights include:

  • Withdraws Fonterra’s requirement to accept applications to become shareholders and offers guidance for assessing applications
  • Provides for a continuous review of the DIRA after every 4 – 6 years
  • Restricts Fonterra’s discretion concerning establishing a fundamental assumption in calculating the base milk price
  • Entails appointment of one member of Fonterra’s Milk Price Panel on the nomination of the Minister of Agriculture

 


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