36Variation or revocation of award

36 Variation or revocation of award (1) The regulator may vary or revoke an award if all parties to the award agree. (2) If the parties are unable to agree on a proposed variation of an award, the regulator may, on the application of one or more of the parties but subject to subclause (3), refer the dispute to arbitration. (3) The regulator must not refer the dispute to arbitration if of the opinion that there is no sufficient reason for varying the award. (4) In deciding whether to refer a dispute to arbitration under this clause, the regulator must have regard to: (a) whether there has been a material change in circumstances since the award was made or last varied; (b) the nature of the matters in dispute; (c) the time that has elapsed since the award was made or last varied; and (d) other matters the regulator considers relevant. (5) The provisions of this Part about the arbitration of a dispute arising from an access proposal apply, with the necessary modifications, to a dispute about the proposed variation of an award.

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