The Government is updating kiwifruit regulations to ensure the industry is best structured for future growth, says Primary Industries Minister Nathan Guy.
“New amendments to the Kiwifruit Export Regulations will allow Zespri shareholders to consider setting rules around maximum shareholding and eligibility for dividend payments.
“This will give Zespri more options for managing its shareholding available to any other company operating under the Companies Act, and will ensure that the interests of all shareholders are recognised in any decision affecting them.
“These amendments will not change the industry’s ‘single desk’ export framework but will provide more certainty about the activities Zespri can undertake as a matter of core business.
“These changes will give Zespri greater certainty for investing in the marketing of New Zealand-grown kiwifruit, as well as research and development.”
Mr Guy says the industry undertook a self-review through the Kiwifruit Industry Strategy Project, and the Government then developed these regulations to better support the future direction of the sector.
The amendments have also been informed by an independent review of Kiwifruit New Zealand commissioned by the Ministry for Primary Industries and submissions received during public consultation earlier in 2016.
The update will also include changes to Kiwifruit New Zealand, the independent industry regulator, to ensure its governance and accountability arrangements are fit for purpose and support transparent and robust decision-making.
‘’The addition of two independent directors to the Kiwifruit New Zealand board will improve the range of specialist marketing skills available for considering collaborative marketing applications.”
The new regulations are scheduled to be approved later in the year.
To find out more visit: http://www.mpi.govt.nz/news-and-resources/consultations/proposed-amendme...