These regulations, which come into force on 21 May 2021, require the Fonterra Co-operative Group Limited to pay a levy of $598,112 for the 2020/21 financial year.

The purpose of the levy is to recover some of the Commerce Commission’s costs, including the costs of making determinations and enforcing subparts 5 and 5A of Part 2 of the Dairy Industry Restructuring Act 2001 (the Act).

The levy is calculated by subtracting an over-recovery of those costs of $52,888 (excluding GST) in the 2019/20 financial year from the estimated costs of $651,000 (excluding GST) for the 2020/21 financial year.

These regulations are revoked on the close of 31 May 2021. They are made under section 134 of the Act. On 1 June 2021, the Dairy Industry Restructuring Amendment Act 2020 replaces section 134 of the Act so that the levy-making process or the levy may be set in regulations for financial years that start on or after 1 July 2021.

These regulations also revoke the Dairy Industry (Fonterra Levy) Regulations 2020, which set the levy for the previous year.