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Competition and Consumer Act 2010
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Turn the raw legal text into a practical explanation grounded in Competition and Consumer Act 2010.
60E Commission may issue notice to aid prevention of price exploitation in relation to the carbon tax repeal
(1) The Commission may give an entity a written notice under this section if the Commission considers that doing so will aid the prevention of the entity engaging in price exploitation in relation to the carbon tax repeal.
(2) The notice must:
(a) be expressed to be given under this section; and
(b) be expressed to relate to any supply that the entity makes that is:
(i) of a kind specified in the notice; and
(ii) made in circumstances specified in the notice; and
(iii) made during the period specified in the notice (which must not be a period ending after the end of the carbon tax repeal transition period); and
(c) specify the maximum price that, in the Commission’s opinion, may be charged for a supply to which the notice is expressed to relate.
(3) The Commission may, on its own initiative or on application made by the entity:
(a) vary the notice to:
(i) change the period specified as required by subparagraph (2)(b)(iii); or
(ii) change the price specified in the notice as required by paragraph (2)(c); or
(b) revoke the notice.
The Commission must give the entity written notice of the variation or revocation.
(4) The Commission may publish the notice, or particulars of any variation or revocation of the notice, in such manner as the Commission considers appropriate.
(5) A notice under this section is not a legislative instrument.