New South Wales Consolidated Acts

NATIONAL GAS (NSW) LAW - SECT 91BM

91BM Nature of Wholesale Market Procedures

(1) Wholesale Market Procedures are a form of statutory instrument directed at the regulation of a declared wholesale gas market.

(2) The Wholesale Market Procedures may deal with the following matters--

(a) the matters specified by the Rules;

(b) any other matter relevant to a declared wholesale gas market on which this Law or the Rules contemplate the making of Procedures.

(3) The Wholesale Market Procedures--

(a) may vary according to the persons, times, places or circumstances to which they are expressed to apply; and

(b) may confer functions or powers on, or leave any matter or thing to be decided by, AEMO; and

(c) may confer rights or impose obligations on Registered participants, exempted participants, or other persons; and

(d) may require a Registered participant or an exempted participant to give an indemnity against injury, damage or loss arising from the participant's failure to comply with requirements imposed by the Procedures; and

(e) may confer power on AEMO to make or issue guidelines, tests, standards and other documents of an administrative nature; and

(f) may confer power on AEMO to require a person on whom a right is conferred, or an obligation imposed, under the Procedures--

(i) to comply with a guideline, standard or other document of an administrative nature; or

(ii) to conduct, or submit to, a test designed by AEMO; and

(g) may exempt, or confer a power of exemption, from the application of the Procedures or specified provisions of the Procedures; and

(h) may contain provisions of a savings or transitional nature.

(4) AEMO must not, without the consent of the MCE, make Wholesale Market Procedures that confer a right or function, or impose an obligation, on the MCE or a Minister of a participating jurisdiction.

(5) The Wholesale Market Procedures cannot--

(a) create an offence; or

(b) provide for a criminal or civil penalty.