WELLINGTON, April 27 (Reuters) – The New Zealand government
said on Wednesday it plans to amend the Dairy Industry
Restructuring Act 2001 (DIRA) to support Fonterra Co-Operative
Group’s move to a new capital structure. Fonterra, one of the world’s largest dairy exporters, last
year proposed a new capital structure that would allow new
farmers to enter the co-operative more easily. The move needs
changes to the Act to facilitate it. (nL4N2SU09E) “We’re proposing a set of amendments to DIRA that strike a
balance between recognising the shareholders’ mandate for change
and enabling the successful function of the wider dairy sector,”
said Agriculture Minister Damien O’Connor in a statement.
New Zealand government moves to amend dairy act
