(1)  A person who has, in the Regulator's opinion, a proper interest in a proposed electrical management scheme, may submit the scheme to the Regulator for approval.

(2)  Before deciding an application for approval of the scheme, the Regulator may, by public advertisement –

(a) give notice of the application; and

(b) invite written submissions on the application from interested persons within the time specified in the advertisement.

(3)  The Regulator may approve a scheme on conditions the Regulator considers appropriate.

(4)  Without limiting the generality of subsection (3) , the Registrar may do any one or more of the following under that subsection:

(a) require the manager of the scheme to pay to the Regulator fees and charges on a specified basis relating to the approval or supervision of the scheme;

(b) require the manager to enter into specified agreements or agreements of a specified type;

(c) restrict the range of business activities in which the manager may be involved;

(d) regulate the administration and conduct of the scheme;

(e) prescribe procedures for the variation or revocation of the scheme or of conditions of the scheme;

(f) provide for information and reports to be provided by the manager.

(5)  The manager of an approved electrical management scheme must, if so required by written notice given to the manager by the Regulator, submit a revised scheme for approval by the Regulator within a period, which must be at least 60 days from the date of the notice, stated in the notice.

Penalty:  Fine not exceeding 100 penalty units.

(6)  A notice under subsection (5) must set out –

(a) the matters to be addressed in the revised scheme; and

(b) the proposed date for the revised scheme to take effect; and

(c) the grounds on which the revision is required.

(7)  The Regulator may deal with a revised scheme in the same way as if the manager had applied for approval of the scheme under this section and, if the revised scheme is approved, the revised scheme takes effect in substitution for the scheme previously approved.