New South Wales Consolidated Acts

INDEPENDENT PRICING AND REGULATORY TRIBUNAL ACT 1992 - SECT 18

18 Implementation of price determinations and other reports

(1) A determination of the Tribunal of the maximum price for a government monopoly service is to be implemented as follows:

(a) if the price for the service is fixed by a Minister, a public official (other than the Governor) or the relevant government agency-the Minister, official or agency is to ensure that the price does not exceed the maximum price determined by the Tribunal,

(b) in any other case-the Minister responsible for the supply of the service (or for the government agency that supplies the service) is required to take the appropriate action available to the Minister to ensure that the price does not exceed the maximum price determined by the Tribunal.

(1A) A determination made by the Tribunal of the methodology for fixing the maximum price for a government monopoly service is to be implemented as follows:

(a) if the price for the service is fixed by a Minister, a public official (other than the Governor) or the relevant government agency-the Minister, official or agency is to ensure that the price does not exceed the maximum price fixed in accordance with a proper application of the methodology,

(b) in any other case-the Minister responsible for the supply of the service (or for the government agency that supplies the service) is required to take the appropriate action available to the Minister to ensure that the price does not exceed the maximum price fixed in accordance with a proper application of the methodology.

(2) The approval of the Treasurer must be obtained if another Minister, an official or an agency fixes (or takes action to fix) the price below the maximum price determined by the Tribunal or calculated in accordance with the determination of the Tribunal.

(3) If a report of the Tribunal makes recommendations with respect to the pricing policies for a government monopoly service, the recommendations are to be taken into account in the fixing of prices for those services.

(4) A government agency which is the subject of a determination or recommendation of the Tribunal is required to include in its annual report:

(a) particulars of how any such determination has been implemented, and

(b) a statement of whether any such recommendation has been implemented and, if not, the reasons why it has not been implemented.

(5) A government agency that is the subject of a determination or recommendation of the Tribunal is also required to include the particulars and statement required under subsection (4) in the submissions made by the agency to the Tribunal during any subsequent investigation of the same matter as that to which the determination or recommendation related.