Western Australian Current Regulations

ELECTRICITY INDUSTRY (ELECTRICITY SYSTEM AND MARKET) REGULATIONS 2004 - REG 40

40 .         Obligation to make payments under market rules

        (1AA)         In this regulation —

        person required to pay means, as the case requires —

            (a)         a registered participant required to pay an amount, as referred to in subregulation (1)(a)(i) or (2)(a)(i); or

            (b)         the operator required to pay an amount, as referred to in subregulation (1)(a)(ii) or (2)(a)(ii).

        (1)         If, under the market rules —

            (a)         either —

                  (i)         a registered participant is required to pay an amount to another registered participant or to the operator; or

                  (ii)         the operator is required to pay an amount to a registered participant;

                and

            (b)         the market rules specify the day by which the amount must be paid; and

            (c)         the person required to pay has not paid the amount within 28 days after the day referred to in paragraph (b),

                the person required to pay commits an offence.

        Penalty: $50 000 and $10 000 for each day, after the 28 ^th day, on which the amount is not paid.

        (2)         If, under the market rules —

            (a)         either —

                  (i)         a registered participant is required to pay an amount to another registered participant or to the operator; or

                  (ii)         the operator is required to pay an amount to a registered participant;

                and

            (b)         the market rules do not specify the day by which the amount must be paid; and

            (c)         the person required to pay has been given a notice to pay which specifies the day by which the amount must be paid; and

            (d)         the person required to pay has not paid the amount within 28 days after the day referred to in paragraph (c),

                the person required to pay commits an offence.

        Penalty: $50 000 and $10 000 for each day, after the 28 ^th day, on which the amount is not paid.

        (3)         Subregulations (1) and (2) apply despite a registered participant or the operator disputing, under the market rules, the amount to be paid unless —

            (a)         the market rules provide that the amount need not be paid if the amount is disputed under the market rules; or

            (b)         the parties to the dispute agree otherwise.

        [Regulation 40 inserted: Gazette 16 Aug 2005 p. 3844‑5; amended: Gazette 13 Nov 2015 p. 4636; 24 Jun 2016 p. 2302.]

        [Heading inserted: Gazette 16 Aug 2005 p. 3845.]