This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 17 June 2011, require the Fonterra Co-operative Group Limited to pay a levy of $439,176 for the 2010/2011 financial year in instalments. The first instalment of $359,176 is due on or before 15 July 2011. The second instalment of $80,000 is due on or before 31 December 2011.
The levy has been calculated by adding estimated costs of $160,000 for the 2010/2011 financial year to actual costs of $308,320 for the 2009/2010 financial year, and deducting an over-recovery of $29,144 for the 2008/2009 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 costs for enforcing certain parts of that Act.