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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Retail

SkyCity gets keys to NZICC from Fletcher

After one of the largest commercial building fires and multiple delays, SkyCity has NZICC.

Dileepa Fonseka 12:00pm

World

Trump team torpedoed Nvidia’s push to export AI chips to China

Decision a victory for Marco Rubio and White House advisers over Jensen Huang.

The Wall Street Journal 10:57am

Trump team torpedoed Nvidia’s push to export AI chips to China

Markets

Being AI’s bold plan: No business, still listed

From wannabe Google challenger to now selling off its last business to escape debt.

Rebecca Stevenson 9:42am

Being AI’s bold plan: No business, still listed

Sponsored

Health insurance proving a valuable negotiating tool for Kiwi businesses

More employers see health insurance as key to staff wellbeing.

Moneyfit

Sponsored

Move-in ready offices: How business are rethinking workspace

Businesses want agility – and office space is evolving fast

Sponsored by Precinct Properties

More Primary Sector

Primary Sector

Less than 10% of Provincial Growth Fund loans repaid

Of nearly $366m paid out in loans, just over $34m has been repaid.

Michael Neilson 5:00am

Primary Sector

Mammoth application for Santana gold mine

A 9,400-page submission targets what is said to be NZ's largest gold find in 40 years.

Pattrick Smellie 03 Nov 2025

Primary Sector

Rising volumes push Port of Tauranga profit outlook higher

Port of Tauranga expects its full-year net profit after tax to fall somewhere between $137 million and $147m.The NZX-listed port company’s container volumes increased 9% to 319,649 TEUs in the first three months to Sept 30.Total trade increased 5.9% in volume compared to the same...

Staff reporters 31 Oct 2025

Primary Sector

AgriZeroNZ invests $1.7m in Australian cattle IVF platform

AgriZeroNZ has invested A$1.5 million (NZ$1.7m) into Queensland biotech company Nbyro, which aims for faster breeding of more emissions-efficient livestock.The public-private joint venture was the co-leader in a wider funding round for Nbyro. The stake is AgriZeroNZ’s 10th equity...

Staff reporters 31 Oct 2025

MPs clear Fonterra restructuring bill with minor tweaks

More Primary Sector

Your company has a subscription

Team