Australian Capital Territory Current Acts

INDEPENDENT COMPETITION AND REGULATORY COMMISSION ACT 1997 - SECT 24G

    (1)     The commission may vary a price direction only if it is satisfied on reasonable grounds that the variation is—

        (a)     justified by the material change in cost conditions, or price variation trigger, that is the basis for the investigation, having regard to the criteria listed at section 20 (2); and

        (b)     in accordance with the current reset principles for the regulated service.

    (2)     The commission may not vary a price direction so as to—

        (a)     vary, omit or replace the current reset principles for the regulated service; or

        (b)     include any future reset principles into the price direction that will have the effect of varying, omitting or replacing the current reset principles for the regulated service in their application at a future date.

    (3)     Subject to subsections (1) and (2), the commission may vary a price direction to vary, omit or replace any future reset principles in the direction, or to include future reset principles into the direction.