This note is not part of the regulations, but is intended to indicate their general effect.
These regulations come into force on the 28th day after the date of their notification in the Gazette.
The regulations require the Fonterra Co-operative Group Limited (Fonterra) to pay a levy of $717,750 in 2 equal instalments of $358,875 to the Minister with—
The sum of $155,250 was under-recovered in respect of the levy paid for the 2004/2005 financial year under the Dairy Industry (Application Fees and Fonterra Levy) Regulations 2004.
The Minister of Agriculture has added this under-recovery to the levy of $562,500 that would otherwise be payable by Fonterra for the 2006/2007 financial year.
The purpose of the levy is to pay the Commerce Commission’s costs of making and enforcing determinations under the Dairy Industry Restructuring Act 2001, and the cost of enforcing parts of that Act.