153ZATreasurer may apply to Federal Court for divestiture order

153ZA Treasurer may apply to Federal Court for divestiture order

The Treasurer may apply to the Court for an order under subsection 153ZB(2) or (3) in respect of a body corporate if the Treasurer is satisfied that the following conditions are met:

(a) the Commission has given the Treasurer a prohibited conduct recommendation under section 153S;

(b) the body corporate is identified in the recommendation (in accordance with subparagraph 153S(2)(c)(i) or (iii));

(c) the application is made no later than 45 days after:

(i) unless subparagraph (ii) applies—the day on which the Commission gave the Treasurer the recommendation; or

(ii) if there has been a variation of the recommendation under section 153T—the day on which the Commission made the variation;

(d) the order applied for is of a kind stated in the recommendation (in accordance with paragraph 153S(2)(d));

(e) the conduct identified in the recommendation (in accordance with subparagraph 153S(2)(c)(ii)):

(i) is prohibited conduct engaged in by the corporation identified in the recommendation (in accordance with subparagraph 153S(2)(c)(i)) (the relevant corporation); and

(ii) is, or includes, prohibited conduct under section 153H (electricity spot market (aggravated case));

(f) the order applied for is a proportionate means of preventing the relevant corporation, or any related body corporate, from engaging in that kind of prohibited conduct in the future;

(g) the following conditions are satisfied:

(i) the order applied for will result, or is likely to result, in a benefit to the public;

(ii) if the order applied for will result, or is likely to result, in a detriment to the public—the benefit mentioned in subparagraph (i) would, or is likely to, outweigh that detriment.