New Zealand Legislation: Acts
Acts are laws made by Parliament
Reprint as at 18 May 2011
| Public Act | 2001 No 51 |
| Date of assent | 26 September 2001 |
| Commencement | see section 2 |
Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.
A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.
This Act is administered by the Ministry of Agriculture and Forestry.
Part 2
Restructuring and regulation of dairy industry
Subpart 1—Authorisations under Commerce Act 1986
8 Assets and shares acquired after 15 August 2001
9 Undertaking to dispose of shares in New Zealand Dairy Foods Limited
Subpart 2—Matters relating to New Zealand Dairy Board
Amendments to Dairy Board Act 1961 taking effect on amalgamation date
13 Amendments to Dairy Board Act 1961
Conversion of Board into company after 1 year
14 Conversion of Board into company
Exiting company buy-out agreements
15 Agreement for transfer or surrender
Default procedure for buy-out of exiting companies’ interests in Board
16 Default procedure for buy-out of exiting companies’ interests in Board
17 Notice to stop default procedure
18 Default procedure to stop if new co-op amalgamation does not take effect
Miscellaneous provisions relating to exiting company buy-out
20 Cancellation of shares surrendered
Subpart 3—International trade with designated markets
23 Restrictions on exports to designated markets
Export licences conferred on Board
24 Licences during initial period
25 Reduction of licences in respect of designated markets in European Communities during the interim period
25A Export licence conferred on Board by section 24 or 25 must be recorded in register of export licence holders
26 Later allocation of export licences
27 Increases in rights to export to designated markets during initial period
27A Increases or reductions in rights to export to designated markets after initial period
28 Restriction on transfer of initial licences
28A Transferring export licences
Revocation of initial licences
29 Revocation of initial licences
Quota trade completed before trade at normal tariff
29A Quota trade completed before trade at normal tariff
Maintaining register of licence holders
29B Register of export licence holders
29C Power to authorise persons
29D Power to require assistance
29E Power of entry without search warrant
29G Power to require information
29H Power to audit milk collection data
29J Entry and search powers when executing warrant
29K Requirements when executing warrant
29L Disposal of property seized under search warrant
30 Customs and Excise Act 1996 to apply to prohibited exports
34 Liability of companies and persons for actions of agents or employees
35 Liability of directors and managers
36 Presumption as to authority
38 Infringement actionable by licensee
Notice of international obligations
40 Notice of international obligations
41 Minister may require information
Subpart 4—Livestock Improvement Corporation Limited and core database
45 Contents of restructuring plan
47 Constitution must provide for retention of core database
48 Constitution must restrict who may hold shares
49 Constitution must impose maximum voting rights
50 Constitution must provide for postal voting
51 Minister’s consent needed to change certain provisions of constitution
53 Application for registration of co-operative company
Minister approves restructuring plan
54 LIC board must give restructuring plan to Minister
55 Approval of restructuring plan
56 Revision of restructuring plan
57 Approval of revised restructuring plan
58 Failure to submit restructuring plan
Notification to prospective shareholders
59 Notification to prospective shareholders
Implementation of restructuring plan
60 Implementation of restructuring plan
62 Regulations relating to herd testing and provision of information to core database
63 Regulations relating to access to core database
64 General regulations relating to herd testing and core database
65 Regulations requiring disclosure of information by LIC
65A Regulations relating to dairy industry entity other than LIC
66 Information to be supplied to chief executive
69 Herd Testing Regulations 1958 deemed to have been made under this Act
Subpart 5—Regulation of dairy markets and obligations of new co-op
73 New co-op must accept application
74 Commencement and terms of supply
76 Publication of application period
77 Price of co-operative share
79 Co-operative share standard and peak note standard
80 Publication of prices and standards
81 Requirements applying to co-operative shares and peak notes for applications in application period
82 Requirements applying to co-operative shares and peak notes for applications outside application period
Supply of milk deferred if capacity constraint notice issued
86 Publishing capacity constraint notices
87 Effect of capacity constraint notice on supply
88 Effect of capacity constraint notice on purchase of co-operative shares and peak notes
89 Effect of change in co-operative share standard or peak note standard before supply commences if default price applies
90 Deposit if default price applies
91 Balance of purchase price if default price applies
92 Deposit if June price elected
93 Balance of purchase price if June price elected
94 Minimal supply: first exception
95 Transport costs: second exception
96 Order in Council may terminate second exception
New co-op must allow withdrawal
98 Surrender value of co-operative shares and peak notes for withdrawal notified in application period
99 Surrender value of co-operative shares and peak notes for withdrawal notified outside application period
100 Effect of change in co-operative share standard or peak note standard before withdrawal
103 Repurchase of capital notes by new co-op
104 Use of redeemable preference shares
105 Provisions concerning redeemable preference shares
106 No discrimination between suppliers
107 Regulation of supply contracts for raw milk
108 Right to supply independent processors
Transitional provisions for Tatua and Westland
112 New co-op must supply information
113 New co-op must purchase produce if required
114 Terms of purchase of exiting company’s produce
115 Obligations concerning milk
116 Obligations to publish information
117 Information to be supplied to Commission
119 Regulations prescribing fees
119A Incorporation by reference
120 Determination to resolve conflict
121 Requirements for application
122 Commission must notify parties
123 Commission must decide whether to make determination
124 When determination must be completed
125 Requirements for determinations
126 Matters included in determination
127 Procedure for determinations
130 Clarification of determination
131 Reconsideration of determination
132 Appeals from certain determinations
133 Enforcing Commission determinations
136 Making and giving applications or notices
140 Jurisdiction of High Court
145 Application of Commerce Act 1986 provisions
147 Minister to certify that market share thresholds met
148 Subpart ceases to apply to island that meets its market share threshold
148A Report required if not requested before 1 June 2015
148B Procedure where market share threshold is met after report requested under section 148A
149 Subpart expires if both islands meet their market share thresholds
151 Shares issued on amalgamation neither dutiable gift nor dividend
152 Available subscribed capital of new co-op
153 Class of shares in respect of which available subscribed capital is received
154 Net losses and imputation credits of amalgamating co-ops
155 Taxation of company into which Board converts
156 Gift duty and taxation in respect of Livestock Improvement Corporation Limited
157 Taxation of The New Zealand Dairy Research Institute
Subpart 7—The New Zealand Dairy Research Institute, sharemilkers, and miscellaneous provisions
The New Zealand Dairy Research Institute
158 The New Zealand Dairy Research Institute
161 Application of Co-operative Companies Act 1996 to new co-op shares
162 Shareholders’ Council of new co-op
164 Validation of issue of certain shares
Repeals, revocations, and amendments
165 Repeals, revocations, and amendments
166 Board must supply information about export permits
167 Saving relating to export produce
168 Annual report and statements for season ending 31 May 2001
169 Saving relating to superannuation schemes
Schedule 1
Specified provisions of new co-op constitution
Schedule 2
Amendments to Dairy Board Act 1961 taking effect on amalgamation date
Schedule 3
Provisions applying in relation to conversion of Board
Schedule 4
Default procedure for compulsory buy-out of exiting companies before conversion of Board into company
Schedule 5
Designated markets for initial and interim licences
Schedule 5A
Designated markets following expiry of initial and interim licences
Schedule 5B
Rules for allocation of export licences to multiple participants for designated markets in Schedule 5A
Schedule 5C
Form of statutory declaration
Schedule 5E
Incorporation of material by reference in regulations
