New Zealand Acts

COMMERCE ACT 1986 - SECT 54M

54M Administrative settlements with Transpower made before 1 April 2009

1 This section applies to any administrative settlement with Transpower that is accepted by the Commission before 1 April 2009 in respect of a breach of a threshold.

2 Any breach of an administrative settlement with Transpower may be dealt with under Part 6 as if it were a breach of a customised price-quality path, despite anything in the terms of the settlement.

3 Before the expiry of the administrative settlement, the Commission must recommend to the Minister that an Order in Council be made under section 52N declaring that either—

a) Transpower is subject to default/customised price-quality regulation under subpart 6 ; or

b) Transpower is subject to individual price-quality regulation under subpart 7 .

4 Subpart 2 , except the provisions relating to inquiries, applies to the process for imposing that regulation and making the section 52P determination.

5 If an Order in Council declares that Transpower is subject to default/customised price-quality regulation, the section 52P determination must set the price-quality path that applies for the regulatory period commencing with the date on which the Order in Council comes into force, using the process under section 53P for resetting default price-quality paths.

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History: Section 54M: inserted, on 1 April 2009, by section 4 of the Commerce Amendment Act 2008 (2008 No 70).   Section 54M(3)(b): amended, on 1 November 2010, by section 153(1) of the Electricity Industry Act 2010 (2010 No 116).     Section 54M(6): repealed, on 1 November 2010, by section 153(2) of the Electricity Industry Act 2010 (2010 No 116).