37Action by monopoly provider following pricing policy order

37 Action by monopoly provider following pricing policy order

(1)  Within the period of 45 days immediately after a pricing policy order in respect of a monopoly service is made, the monopoly provider to which the order relates is to –

(a) determine –

(i) the pricing policies to be applicable to the monopoly service during the period in which the order is in force; and

(ii) the prices to be charged on the day on which the order takes effect and the period during which those prices will apply; and

(b) lodge with the Regulator an application for the approval of those pricing policies and prices, together with any supporting information the Regulator may require.

(2)  A monopoly provider is not to amend the pricing policies or prices determined under subsection (1) and approved under subsection (3) unless it has the written approval of the Regulator to do so.

(3)  The Regulator –

(a) [Section 37 Subsection (3) amended by No. 13 of 2015, s. 25, Applied:01 Jul 2015] is to approve the determination or amendment by a monopoly provider of its pricing policies in respect of a monopoly service or prices for a monopoly service if the Regulator is satisfied that the policies or prices as determined or amended would be consistent with the pricing policy order made in respect of the monopoly service; and

(b) [Section 37 Subsection (3) amended by No. 13 of 2015, s. 25, Applied:01 Jul 2015] is not to approve such a determination or amendment unless the Regulator is so satisfied.

(4)  [Section 37 Subsection (4) amended by No. 13 of 2015, s. 25, Applied:01 Jul 2015] [Section 37 Subsection (4) amended by No. 13 of 2015, s. 25, Applied:01 Jul 2015] The Regulator is to give notice of his or her approval, or disapproval, of the determination or amendment by a monopoly provider of its pricing policies or prices under within 15 days after the Regulator receives the application for approval.