INDEPENDENT PRICING AND REGULATORY TRIBUNAL ACT 1992 - SECT 13A Determinations of pricing

INDEPENDENT PRICING AND REGULATORY TRIBUNAL ACT 1992 - SECT 13A

13A Determinations of pricing

(1) In making a determination of the pricing for a government monopoly service, the Tribunal is limited to either of the following approaches--

(a) the first approach, which involves either--

(i) fixing the maximum price for the government monopoly service, or

(ii) setting the methodology for fixing the maximum price for the government monopoly service, or

(b) the second approach, which involves both--

(i) fixing the maximum price for a part or parts of the government monopoly service, and

(ii) setting the methodology for fixing the maximum price for any other part or parts of the government monopoly service.

(2) The Tribunal may not choose to make a determination that involves setting the methodology for fixing a maximum price, unless the Tribunal is of the opinion that it is impractical to make a determination directly fixing the maximum price.

(3) The Tribunal is to include in its determination a statement of the reasons why it has chosen to make a determination that involves setting the methodology for fixing a maximum price.

(4) In relation to determinations that involve the second approach ("mixed determinations"), a reference (however expressed) in this or any other Act to--

(a) a determination of, or fixing, the maximum price for a government monopoly service includes a reference to so much of a mixed determination as involves fixing the maximum price for any part or parts of a government monopoly service, and

(b) a determination of, or setting, the methodology for fixing the maximum price for a government monopoly service includes a reference to so much of a mixed determination as involves setting the methodology for fixing the maximum price for any part or parts of a government monopoly service.