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Shareholders

NOIC is a cost-recovery business, founded and operated on cooperative principles. It was created by farmers, for farmers and exists entirely for the benefit of its farming shareholders.

Overview

Landowners in areas serviced by the scheme are able to purchase shares in the Company up to a maximum of 1 share per hectare of land owned. Each share provides the holder with a right to the supply of water. Shareholders must complete a Water Supply Agreement with the Company, in the form of a registered encumbrance against the property title. A share entitles the holder to 0.4 l/s of water, which is equivalent to approximately 3.5 mm of water a day spread across one hectare. On average NOIC shareholders irrigate approximately 1.3 hectares per share. Dairy operations will typically require 1 share per hectare.

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Shares

The scheme is fully subscribed. From time to time shares may become available as a result of farm sales. Shares are subject to on-going fixed and variable charges paid monthly by shareholders. Fixed charges meet the operational and debt servicing costs of the business, while variable charges reflect the amount of water used by each shareholder and are a recovery of the power costs incurred by NOIC to pump this water. A monthly meter reading at each offtake determines how much water has been used. If you do not use water, you do not pay variable power costs, but you must still pay the fixed operational and debt-servicing charges. Please contact the office to receive information on current charges or view the charges document below.

Become a shareholder

For more information on becoming a shareholder, please complete the adjacent form or contact the office directly.