The Government is to amend DIRA – the Dairy Industry Restructuring Act to accommodate Fonterra’s capital restructure plan – but there are to be significant provisions aimed at limiting the opportunity for New Zealand’s biggest business to throw its weight around. Agriculture Minister Damien O’Connor says any changes to DIRA will be open for stakeholder comment until the end of May. The proposed amendments focus on enabling Fonterra to partially delink its unit fund and improve the operation of the current base milk price-setting regime. Fonterra’s 10,000-or so farmer-shareholders voted 85 per cent in support of a capital restructure proposal but the Government’s tick is required because Fonterra is regulated under DIRA. Fonterra says the Government has signalled regulatory changes would not be in place by June 1, the start of the new dairy season.