26Designated entity must give copy of any approved standard terms

26 Designated entity must give copy of any approved standard terms

(1) A designated entity is liable to a civil penalty if:

(a) the entity participates in negotiations regarding:

(i) a proposed service agreement or access agreement with the other person for which the entity would be the provider; or

(ii) a proposed variation of a service agreement or access agreement with another person for which the entity is the provider; and

(b) the entity has approved standard terms covering the cash distribution services or facilities access to which the proposed agreement, or proposed variation, relates; and

(c) the entity fails to give the other person a written copy of the approved standard terms within a reasonable time after starting to participate in the negotiations; and

(d) the approval or determination under Division 4 in relation to the approved standard terms is not revoked before the time the entity is required to give the copy under paragraph (c).

Note: An individual may be liable for an ancillary contravention of this civil penalty provision (see section 92 of the Regulatory Powers Act).

Civil penalty:

(a) for a body corporate—5,000 penalty units; and

(b) for an individual—1,000 penalty units.

Continuing contraventions

(2) Subsection 93(2) of the Regulatory Powers Act does not apply in relation to a contravention of subsection (1) of this section.