MPs clear Fonterra restructuring bill with minor tweaks

The Dairy Industry Restructuring bill will now be read a second time. (Image: Getty)

Thu, 10 Nov 2022

Parliament's primary production select committee has given the thumbs-up to legislation empowering change at Fonterra to let farmers cut back the number of co-operative shares they have to hold.Chaired by Labour's Jo Luxton, the committee of four Labour MPs, three National MPs and one Act MP unanimously recommended some minor changes to the Dairy Industry Restructuring (Fonterra Capital Restructuring) Amendment Bill in the report that was published the same day as Fonterra's annual meeting in Rotorua. At the co-op’s annua...

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