New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) In these regulations, unless the context otherwise requires,—
Act means the Dairy Industry Restructuring Act 2001
additional cost of winter milk, in relation to an Island, means the cost to new co-op of winter milk supplied to new co-op in a season in that Island per kilogram of milksolids minus the total payout per kilogram of milksolids in that season
annualised share value, in relation to a season, is the amount of a perpetual annuity that has a net present value equal to the sum of—
(a) the price of a co-operative share as at 1 June in the season multiplied by the total number of co-operative shares as at that date; and
(b) the peak note price multiplied by the total number of peak notes as at 1 June in the season
balance of the season, in relation to a season, means the months of November, December, January, February, March, April, and May
Island means the North Island or South Island of New Zealand
kilograms of milksolids is the number of kilograms of milksolids supplied to new co-op in a season by shareholding farmers in that capacity
new co-op retention—
(a) means the after-tax profit of new co-op for a season that is retained by new co-op and not paid to shareholding farmers; but
(b) does not include retentions for abnormal or extraordinary asset revaluations or write-offs
organic milk means raw milk certified as organic milk by—
(a) New Zealand Biological Producers and Consumers Council Inc; or
(b) The Biodynamic Farming and Gardening Association in New Zealand Inc; or
(c) AsureQuality Limited
raw milk means untreated milk from a cow, and includes organic milk; but does not include—
(a) milk or a component of milk from a cow produced under special conditions by, for example, the use of—
(i) specialised herd selection; or
(ii) specialised farming practice; or
(iii) specialised feeding practice; or
(iv) new technology; and
(b) colostrum
total payout means the total payment made by new co-op and interconnected bodies corporate of new co-op to shareholding farmers for raw milk supplied by them in that capacity in a season, minus the total winter milk premium for that season
total winter milk premium means the total premium paid to shareholding farmers for the supply of winter milk to new co-op and interconnected bodies corporate of new co-op in a season
wholesale milk price is defined in regulation 8(6)
winter milk means raw milk supplied in June or July.
(2) The following terms are defined in section 5 of the Act:
(aa) chief executive:
(a) Commission:
(b) co-operative share:
(c) independent processor:
(d) interconnected body corporate:
(e) peak notes:
(f) season:
(g) shareholding farmer.
Regulation 3(1) balance of the season: inserted, on 1 June 2009, by regulation 4(1) of the Dairy Industry Restructuring (Raw Milk) Amendment Regulations 2008 (SR 2008/399).
Regulation 3(1) balance of the season: amended, on 1 June 2009, by regulation 4 of the Dairy Industry Restructuring (Raw Milk) Amendment Regulations 2009 (SR 2009/148).
Regulation 3(1) organic milk paragraph (c): substituted, on 6 May 2004, by clause 4 of the State-owned Enterprises (AgriQuality Limited) Order 2004 (SR 2004/87).
Regulation 3(1) organic milk paragraph (c): amended, on 29 November 2007, by clause 4 of the State-Owned Enterprises (AsureQuality Limited) Order 2007 (SR 2007/330).
Regulation 3(1) transitional period: revoked, on 1 June 2009, by regulation 4(2) of the Dairy Industry Restructuring (Raw Milk) Amendment Regulations 2008 (SR 2008/399).
Regulation 3(1) winter milk: amended, on 1 June 2009, by regulation 4(3) of the Dairy Industry Restructuring (Raw Milk) Amendment Regulations 2008 (SR 2008/399).
Regulation 3(2)(aa): inserted, on 1 June 2009, by regulation 4(4) of the Dairy Industry Restructuring (Raw Milk) Amendment Regulations 2008 (SR 2008/399).