Part Part 1 - Competition and Consumer (Gas Market Code) Regulations 2023 - Preliminary

Part 1Preliminary

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Part 1—Preliminary

1 Name

2 Commencement

3 Authority

4 Definitions

5 Definition of regulated gas producer

6 Definitions of covered supplier and affiliate

Part 2—Application

7 General application

8 General application—variations to agreements

9 Geographical application

Part 3—Negotiations

Division 1—Gas EOIs

10 Gas EOI must comply with certain requirements

11 Gas EOI must be published

12 Gas EOI must remain open throughout gas EOI open period

13 Gas EOI—supplier must notify potential buyer whether or not successful

14 Gas EOI—if notice of interest, supplier must issue offer

15 Gas EOI—exception for material change of supplier’s circumstances, etc.

Division 2—Gas initial offers

16 Gas initial offer must comply with certain requirements

17 Gas initial offer must not be withdrawn or terminated before end of gas initial offer open period or gas initial offer response period

18 Gas initial offer—if notice of interest, supplier must issue gas final offer

19 Gas initial offer—exceptions for material change of supplier’s circumstances, agreement to terminate or withdraw, etc.

Division 3—Gas final offers

20 Gas final offer must comply with certain requirements

21 Gas final offer must not be withdrawn or terminated before end of gas final offer open period

Division 4—Miscellaneous

22 Definition of material change in the supplier’s circumstances

23 Determination—withdrawal or termination circumstances

Part 4—Agreements for supply of regulated gas

Division 1—Procedural rules

24 Agreement for supply of regulated gas—failure to issue gas final offer

25 Agreement for supply of regulated gas must comply with certain requirements

Division 2—Price rules

26 Agreement for supply of regulated gas—entering into agreement where price could exceed reasonable price

27 Agreement for supply of regulated gas—price for supplied gas exceeds reasonable price

28 Offer on gas trading exchange for supply of regulated gas—price under offer exceeds reasonable price

29 Reasonable price

Part 5—Good faith

30 Good faith—dealing in relation to negotiations

31 Good faith—dealing in relation to agreement

32 Good faith—matters to take into account