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KVH plans move to single legal entity

KVH plans move to single legal entity

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27 Oct 21 Company Notices

KVH plans move to single legal entity

KVH plans to move to a single legal entity, Kiwifruit Vine Health Incorporated. This will be a change from the current situation, whereby KVH comprises two legal entities, “Kiwifruit Vine Health Incorporated” and “The KVH Foundation Incorporated”, acting jointly. The latter will be wound up. The reason for this planned change is to reduce cost and simplify accounting. Maintaining two legal entities is no longer cost-effective in light of constitutional changes (namely, a rule change to Kiwifruit Vine Health Incorporated, making all Growers members) and reduced funding arrangements related to full expenditure of the Crown’s Psa funding contribution. The practical implication of this change (in addition to the small on-going cost saving) is the Minister for Biosecurity must confirm the new single legal entity, Kiwifruit Vine Health Incorporated, represents the kiwifruit and kiwiberry sectors for the purpose of GIA (as opposed to the two legal entities acting jointly, as above). This change will have no impact at all on the biosecurity or Psa activities carried out by KVH, nor any impact on the National Pest Management Plan or the existing levy-order funding arrangements for GIA purposes (apart from levies being payable to Kiwifruit Vine Health Incorporated instead of KVH Foundation Incorporated). It will not restrict the mandate of KVH in any way, as the existing rules of Kiwifruit Vine Health Incorporated are sufficiently broad and provide for all functions and activities carried out by KVH, inclusive of the additional functions and activities that would be transferred to Kiwifruit Vine Health Incorporated following its succession to KVH Foundation Incorporated. KVH wishes to ensure there are no grower concerns or issues with this planned change, and welcomes any feedback. Please submit any feedback to [email protected] no later than Friday 11 November. Shortly after this date KVH plans to submit a formal application to MPI and the Minister to make the change.


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