[(1) deleted]
(2) For the purposes
of section 126(3)(b) of the Act, the maximum amount of a specified
governance participant’s civil monetary liability to another person in
respect of an act or omission (the relevant act or omission ) is the lesser
of —
(a)
$100 000; or
(b) the
amount (if any) by which $10 000 000 exceeds the participant’s
total civil monetary liability (whether paid or payable) arising from acts or
omissions occurring in the 12 months immediately preceding the day after
the day on which the relevant act or omission occurred.
(3A) For the period of
12 months commencing at the time at which the Electricity Industry
(Wholesale Electricity Market) Amendment Regulations (No. 3) 2015
regulation 18 comes into operation, subregulation (2) has effect in
relation to the operator (including in relation to its system management
function) as if —
(a) in
paragraph (a), $10 000 were substituted for $100 000; and
(b) in
paragraph (b), $100 000 were substituted for $10 000 000.
Note for this subregulation:
The reference to
subregulation (2) is to that subregulation as in effect prior to the
amendments made by the Electricity Industry Regulations Amendment (Distributed
Energy Resources) Regulations 2025 regulation 16.
(3) A specified
governance participant’s total civil monetary liability referred to in
subregulation (2) is to be determined as at the time at which the
participant’s civil monetary liability in respect of the relevant act or
omission is to be determined.
[Regulation 52 inserted: Gazette
16 Aug 2005 p. 3853‑4; amended: Gazette
13 Nov 2015 p. 4636; SL 2025/37 r. 16.]