New Zealand Legislation: Acts

5 Interpretation

• (1) In this Act, unless the context otherwise requires,—

  allocation period means the quota year or years for which export licences are allocated in accordance with section 26

  amalgamation date means the date on which the new co-op amalgamation becomes effective

  application period means a period set by new co-op as an application period under section 75

  approved restructuring day, in relation to LIC, means 1 June 2002 or any earlier date in the restructuring plan that is approved by the Minister

  associated person has the meaning given by subsection (2)

  Board means the New Zealand Dairy Board established under the Dairy Board Act 1961; and, on and after the conversion date, means the company into which the Board converts

  Board's constitution means the constitution of the Board that was adopted on 5 November 1996 (as amended on 2 December 1997)

  capital notes means the notes issued or to be issued by new co-op (or a wholly-owned subsidiary of new co-op) and defined as capital notes in the constitution of new co-op

  chief executive means the chief executive of the Ministry

  Commission means the Commerce Commission established by section 8 of the Commerce Act 1986

  competent authority means the department of State that is for the time being responsible for the administration of the Animal Products Act 1999

  control has the meaning given by sections 5 to 7 of the Companies Act 1993

  conversion date means the date on which the Board converts into a company under section 14

  co-operative share means a share in new co-op issued, or to be issued,—

  • (a) from the new co-op amalgamation; or

  • (b) in relation to the supply of milk to new co-op by new entrants or shareholding farmers

  co-operative share standard means the share standard referred to in new co-op's constitution that determines the number of shares that a new entrant or shareholding farmer is required to hold

  core database means the part of the database operated by LIC that comprises the following information

  • (a) information provided to LIC under the Herd Testing Regulations 1958 or under the terms and conditions of any licence issued under those regulations:

  • (b) information provided to LIC under any regulations made under this Act

  dairy farmer, in subpart 5 of Part 2,—

  • (a) means a person who produces milk, or intends to produce milk, in New Zealand from dairy cows as a business; but

  • (b) does not include a sharemilker

  default price, in relation to a co-operative share, means—

  • (a) the June price, if that price is within the price range, in—

    • (i) the first season for the supply of milk to which an application to supply as a shareholding farmer relates; or

    • (ii) the season after a notice of withdrawal is given; or

  • (b) the published price on the date that an application is made or a notice of withdrawal is given plus 7.5% if the June price referred to in paragraph (a) exceeds the highest price in the price range; or

  • (c) the published price on the date that an application is made or a notice of withdrawal is given less 7.5% if the June price referred to in paragraph (a) is less than the lowest price in the price range

  designated market means,—

  • (a) for the initial and interim licences, a market listed in Schedule 5; and

  • (b) for the licences that apply following the initial and interim licences, a market listed in Schedule 5A

  eligible participant means a person who—

  • (a) is eligible to hold an export licence; and

  • (b) collects at least 0.1% of total milk solids collected from farmers in New Zealand based on the most representative data of total milk solids collected in New Zealand in the latest year that data is available prior to an allocation period

  export means any shipment in any craft for transportation to a point outside New Zealand

  export licence, in respect of a designated market, means any of the following

  • (a) the initial licences of the Board:

  • (b) a licence allocated under section 25, 26, or 29

  exiting company means any of—

  • (a) The Tatua Co-operative Dairy Company Limited, if that company has not amalgamated with new co-op (or a wholly-owned subsidiary of new co-op):

  • (b) Westland Co-operative Dairy Co Limited, if that company has not amalgamated with new co-op (or a wholly-owned subsidiary of new co-op):

  • (c) New Zealands Premier Dairy Cooperative Limited

  general export licence means an export licence allocated under section 26(5)

  herd testing means the testing of milk cows for the purpose of recording the production of individual cows in respect of milk or components of milk

  holder, in respect of an export licence, means the person recorded in the register of export licence holders kept under section 29B

  independent processor—

  • (a) means a processor of milk or milksolids or dairy products who is not an associated person of new co-op; and

  • (b) includes New Zealand Dairy Foods Limited and any associated person of that company other than new co-op

  initial licence means each licence conferred on the Board by section 24

  initial period has the meaning given by section 24

  insolvency, in relation to the Board, means—

  • (a) the appointment of a receiver in respect of all or substantially all of the property of the Board; or

  • (b) the appointment of a liquidator or interim liquidator under Part 16 of the Companies Act 1993; or

  • (c) removal from the register of companies kept pursuant to section 360(1)(a) of the Companies Act 1993; or

  • (d) the appointment of a statutory manager under Part 3 of the Corporations (Investigation and Management) Act 1989

  interconnected body corporate has the meaning given by section 2(7) of the Commerce Act 1986

  interim licence means, in respect of exports to designated markets in—

  • (a) Canada, the licence for the period beginning on the commencement of the Dairy Industry Restructuring Amendment Act 2007 and ending on 31 December 2007 for a quantity of butter not exceeding 2 000 tonnes; and

  • (b) the Dominican Republic, a licence for the period beginning on the commencement of the Dairy Industry Restructuring Amendment Act 2007 and ending on 31 December 2007 for a quantity of milk powder not exceeding 4 800 tonnes; and

  • (c) the European Communities—

    • (i) as described in section 25(2)(a), a licence for the period beginning on 1 January 2008 and ending on 31 December 2008 for the quantities described in that section; and

    • (ii) as described in section 25(2)(b), a licence for the period beginning on 1 January 2009 and ending on 31 December 2009 for the quantities described in that section; and

    • (iii) as described in section 25(2)(c), a licence for the period beginning on 1 January 2010 and ending on 31 December 2010 for the quantities described in that section

  interim period means the period for which an interim licence is valid

  June price means the price of a co-operative share determined as at 1 June by new co-op's board under its constitution

  LIC means Livestock Improvement Corporation Limited

  LIC board means the board of directors of LIC

  marae includes the area of land on which all buildings such as wharenui (meeting houses), wharekai (dining rooms), ablution blocks, and any other associated buildings are situated

  milksolids means the milk-fat and protein components of raw milk

  Minister means the Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for the administration of this Act

  Ministry means the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act

  new co-op means the amalgamated company under the new co-op amalgamation; and includes any company resulting from a further amalgamation involving new co-op

  new co-op amalgamation means the amalgamation that occurs if The New Zealand Co-operative Dairy Company Limited, Kiwi Co-operative Dairies Limited, and Fonterra Co-operative Group Limited amalgamate under Part 13 of the Companies Act 1993

  new entrant means a dairy farmer who is not a shareholding farmer who applies to become a shareholding farmer under section 73

  panel means the panel established under regulations made under section 63

  peak note price means the price of a peak note set under section 78

  peak note standard means the peak note standard referred to in new co-op's constitution that determines the number of peak notes that a new entrant or shareholding farmer is required to hold

  peak notes means the notes issued or to be issued by new co-op and defined as peak notes in the first constitution of new co-op

  person eligible to hold an export licence means a natural person, unincorporated body, or body corporate who is registered to export under Part 5 of the Animal Products Act 1999

  price range, in relation to an application under section 73 or a notice of withdrawal under section 97, means the range of prices from 7.5% more than the published price at the time that the application is made or the notice is given to 7.5% less than the published price at that time

  published price means the price of a co-operative share set under section 77(1) or amended under section 77(2) as published by new co-op

  qualifying company has the meaning given by section 2A of the Dairy Board Act 1961

  qualifying products or services means Premier Sires, all nominated semen options, Sire Proving Scheme, contract mating scheme, AB Technician Services, MINDA, MINDA Herd Testing, GeneMark, identification tags, and FarmWise products and services, provided by LIC

  quota year means, for designated markets in—

  • (a) the European Communities, the United States of America, and the Dominican Republic, a period of 12 months beginning on 1 January and ending on 31 December; and

  • (b) Japan, a period of 12 months beginning on 1 April and ending on 31 March in the following year

  season means a period of 12 months beginning on 1 June in a year and ending on 31 May in the following year

  shareholding farmer means a dairy farmer who is registered as the holder of co-operative shares

  sharemilker has the meaning given by section 2 of the Sharemilking Agreements Act 1937

  supply redemption rights means the rights issued or to be issued by new co-op and defined as supply redemption rights in the constitution of new co-op

  surrender amount means the amount payable to a shareholding farmer who reduces or ceases supply under section 97

  tariff quota includes trade restrictions with similar effect to a tariff quota

  transacting shareholder has the meaning given by section 4 of the Co-operative Companies Act 1996

  year means a calendar year ending on 31 December.

  (2) A person is an associated person of another person if—

  • (a) they are both bodies corporate and they consist substantially of the same members or shareholders or are under the control of the same persons; or

  • (b) either of them has the power, directly or indirectly, to exercise, or control the exercise of, the rights to vote attached to 25% or more of the voting securities of the other; or

  • (c) one is a director of the other; or

  • (d) either of them is able, directly or indirectly, to exert a substantial degree of influence over the activities of the other.

  Section 5(1) allocation period: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) chief executive: substituted, on 15 December 2007, by section 4(2) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) competent authority: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) designated market: substituted, on 15 December 2007, by section 4(3) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) eligible participant: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) export licence paragraph (b): substituted, on 15 December 2007, by section 4(4) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) general export licence: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) holder: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) initial licence: amended, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) interim licence: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) interim period: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) marae: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) milksolids: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) Ministry: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) person eligible to hold an export licence: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).

  Section 5(1) quota year: inserted, on 15 December 2007, by section 4(1) of the Dairy Industry Restructuring Amendment Act 2007 (2007 No 107).