51AERegulations relating to industry codes

51AE Regulations relating to industry codes

Regulations may prescribe industry codes etc.

(1) The regulations may:

(a) prescribe an industry code, or specified provisions of an industry code, for the purposes of this Part; and

(b) declare the industry code to be a mandatory industry code or a voluntary industry code; and

(c) for a voluntary industry code, specify the method by which a corporation agrees to be bound by the code and the method by which it ceases to be so bound (by reference to provisions of the code or otherwise).

Conferral of functions and powers

(1A) If regulations prescribe an industry code, the industry code may confer on a person or body functions and powers in relation to the code, including functions and powers in relation to the following matters:

(a) monitoring compliance with the code;

(b) dealing with disputes or complaints arising under, or in relation to, the code;

(c) dealing with matters relating to a prospective agreement (including disputes or complaints relating to such an agreement) that would, if entered into, have the effect that one or more parties to the agreement is a participant in the industry to which the code relates;

(d) conducting investigations under, or in relation to, the code;

(e) providing exemptions from the code or specified provisions of the code;

(f) reviewing, or reporting on, the operation of the code or activities under, or in relation to, the code;

(g) any other matter relating to the operation, application or administration of the code.

(1B) For the purposes of subsection (1A), the persons or bodies on whom an industry code may confer functions and powers are:

(a) if the function or power is a function of providing, or a power to provide, exemptions from the code or specified provisions of the code—any of the following:

(i) the Commission;

(ii) the Australian Energy Regulator;

(iii) a Minister (whether or not a Minister administering this provision); or

(b) otherwise—any person or body whether or not a participant in the industry to which the code relates, including the following:

(i) a person or body referred to in subparagraph (a)(i), (ii) or (iii);

(ii) any person from time to time holding, occupying or performing the duties of a specified office or position.

How functions and powers are to be exercised

(1C) If an industry code prescribed by the regulations confers on a person or body a function or power in relation to the code, the code may provide that the function or power is to be exercised by legislative instrument or other kind of written instrument.