The New Zealand Meat Board is a statutory body governed by the Meat Board Act 2004. The 2004 legislation replaced the Meat Board Act 1997, removing the industry good activities previously undertaken by the Meat Board.
The Meat Board's function is governed by Section 8 of the Meat Board Act 2004, that states the functions of the Board are:
(a) to establish and operate quota management systems;
(b) to collect, process and maintain information as required to support the Board’s function under paragraph (a);
(c) to manage, in the interests of livestock farmers, the Board’s reserves and other assets, including-
a. providing funding to assist in the meat industry’s response to any major industry crisis; and
b. maintaining a prudent level of net assets to avoid jeopardising quota markets and the integrity of quota management systems; and
c. providing funding for industry good activities.
(d) to account to livestock farmers regarding the Board’s activities.
The Boards objects are to facilitate the capture, for New Zealand and in the interests of the meat industry, of the best possible ongoing returns available from quota markets and to manage the Board’s reserves and other assets in the interests of livestock farmers.
All the Boards activities must be conducted in a manner that will ensure that the Board’s objects are not compromised.