Buddle Findlay’s primary industry team is New Zealand’s leading legal adviser to co-operatives which generate over 25% of New Zealand’s GDP
A major contributor to New Zealand’s economy
The importance of the co-operative sector is often not appreciated in New Zealand. Co-operatives are not only strong in the primary sector but also feature highly in the financial services, retailing and insurance sectors.
Clients and services
We advise clients on a range of issues including:
- Co-operative capital structure and constitutional issues
- Co-operative Companies Act and the Industrial and Provident Societies Act
- Securities legislation obligations
- Financing and financial reporting.
Recent work
- Advising Satara Co-operative Group, a NZAX listed kiwifruit post harvest operator on its announced merger with EastPack
- Advising the New Zealand Co-operatives Association on all regulatory issues relating to co-operatives including:
- obtaining Securities Act Exemption Notices for co-operatives
- application of IFRS accounting standards to co-operative shares
- development and implementation of Financial Adviser legislation
- application of the Securities Markets Act to co-operatives
- Advising the Ministry of Agriculture and Forestry on:
- Dairy Industry Restructuring Act 2001
- capital structure of Livestock Improvement Corporation
- proposed trading of Fonterra shares among Fonterra farmers
- Advising various co-operative clients including Alliance Group, Ravensdown, Farmlands Trading Society, Delta Produce, ITM, and Capricorn Society
- Presenting at seminars on co-operative company capital structure issues.