New Zealand Legislation: Regulations

11 Later rates of levy

• (1) Rates of the levy for later levy years are to be fixed by BBNZ by any means by which it can lawfully make such decisions.

  (2) BBNZ may not fix a particular rate for a levy year unless either—

  • (a) the rate is no greater than the corresponding rate for the previous levy year; or

  • (b) the rate was approved by growers at the most recent annual general meeting of BBNZ and either—

    • (i) is proportionately greater than the corresponding rate for the previous levy year by no more than the annual percentage increase in the Consumers Price Index most recently released before that meeting; or

    • (ii) was later approved by the Minister of Agriculture.

  (3) For any levy year for which a particular levy rate is not fixed by BBNZ, the corresponding levy rate for the previous levy year will be the rate that applies.