By FWi staff
THE residuary Milk Marketing Board is to go ahead with payments totalling £10 million to producers.
Some £6 million of the total sum will be paid as an interim distribution to eligible producers, and the remaining £4 million will be paid to end year producers.
Payments to individual producers will be calculated on the basis of the entitlements set out in the register held by the Board.
Most registered producers will receive two separate payments, one as an eligible producer and the other as an end-year producer.
But there are a number on the register who will only be able to qualify for one of the payments.
The decisions made by the Board are in accordance with its legal responsibilities under the MMB (residuary functions) Regulations 1994.
The Board is obliged under the Regulations to complete the wind up of affairs as soon as possible.
But before this can be done it must be satisfied that it has collected in and realised, or disposed of the assets of the Board.
Following the last AGM, good progress has been made in dealing with the remaining matters before the final liquidation of the Board, it claims.
But the Board admit that there are still a number of issues that have not been concluded, and therefore a final date for completion remains unknown.