Australian Capital Territory Current Acts

INDEPENDENT COMPETITION AND REGULATORY COMMISSION ACT 1997 - SECT 24S

    (1)     A price direction has effect despite any application for its review, unless the industry panel, on an application by a party, declares in writing that the implementation of the price direction is suspended or altered until—

        (a)     if the panel substitutes a new direction for the price direction under review—the day (or days) the substituted direction comes into effect; or

        (b)     if the panel confirms the price direction under review—the day the report of the review is presented to the Legislative Assembly (under section 24U (Functions of commission)); or

        (c)     if the panel sets aside the price direction under review and remits the matter back to the commission to make a new price direction—the day the new price direction comes into effect.

    (2)     The declaration of suspension or alteration is taken to be a variation of the price direction while the direction remains in force.

    (3)     The following sections apply to the declaration of suspension or alteration as if it were the final report of a price regulation investigation:

              •     section 21 (Final reports)

              •     section 23 (Confidential material in reports)

              •     section 24 (Presenting of reports to Legislative Assembly)

              •     section 24B (Correction of errors in reports).