Australian Capital Territory Numbered Acts

INDEPENDENT PRICING AND REGULATORY (NO. 78 OF 1997) - SECT 4

        (a)     by omitting subsection (1AA) and substituting the following subsections:

“(1AA) A charge under subsection (1) shall be determined in accordance with—

        (a)     any relevant price direction that will be in effect at the time that the determination takes effect; or

        (b)     until such a direction is in effect in respect of the charge—any relevant direction given by the Energy and Water Charges Commission under regulation 18 of the Energy and Water (Regulation of Charges) Regulations before the repeal of those regulations.

“(1AB) If a determination under subsection (1) is inconsistent with a price direction made after the determination, the determination is to be taken to be varied to the extent necessary to remove the inconsistency.”; and

    (b)     by adding at the end the following subsection:

“(4) In this section—

‘price direction' means a direction under section 19 of the Independent Pricing and Regulatory Commission Act 1997 .”.