40DRegulation of exit fees

40D Regulation of exit fees S. 40D(1AA) inserted by No. 49/2015 s. 10(1). (1AA) Without limiting the generality of sections 20(2) or (3) or 21, the conditions to which a licence to sell electricity is subject include a condition prohibiting, on and after the commencement of section 10 of the **Energy Legislation Amendment (Consumer Protection) Act 2015**, the licensee from entering into a contract for the supply or sale of electricity between the licensee and a small retail customer that imposes an exit fee on the termination of the contract unless— (a) the contract is a fixed-term retail contract; and (b) the following will not change during the term of the contract— (i) any tariffs, charges and fees for electricity supplied under that contract; (ii) any discount which applies to tariffs, charges and fees for electricity supplied under that contract; (iii) any terms and conditions that apply to electricity supplied under that contract. S. 40D(1) amended by No. 49/2015 s. 10(2). (1) The Governor in Council may by Order published in the Government Gazette regulate the imposition by a licensee under a fixed-term retail contract of an exit fee that is not otherwise prohibited under subsection (1AA) on the termination of that contract. (2) An Order under subsection (1) may specify terms and conditions applying to the imposition of exit fees. S. 40D(3) substituted by No. 49/2015 s. 10(3). (3) An Order under subsection (1) may also provide that a fixed-term retail contract must include a condition providing that the small retail customer may terminate the contract by giving the required period of notice to the licensee. S. 40D(4) amended by No. 49/2015 s. 10(4). (4) If an Order under subsection (1) requires the inclusion of a condition referred to in subsection (3) in a fixed-term retail contract, that condition is deemed to form part of that contract. (5) Nothing in this section or an Order under this section prevents a licensee from offering an incentive or rebate to a small retail customer to remain a customer of the licensee. (6) An Order under subsection (1) has effect from the date specified in the Order. S. 40D(7) repealed by No. 41/2021 s. 49. (8) This section applies despite anything to the contrary in any terms and conditions that form part or are deemed by this Act to form part of the contract between a licensee and a small retail customer. ***exit fee*** means a fee or charge payable on the termination of a contract but does not include any fee or charge for electricity supplied under the contract; S. 40D(9) def. of *fixed-term retail contract* inserted by No. 49/2015 s. 10(5). ***fixed-term retail contract*** means a contract for the supply or sale of electricity between a licensee and a small retail customer that contains a term or condition that specifies— (a) the date on which the contract will end; or (b) a method for calculating the date on which the contract will end and which is ascertainable at the time the contract is entered; ***required period of notice*** means the longer of— (a) the period of notice agreed between the licensee and the small retail customer; and (b) the period of notice specified in an Order under subsection (1). S. 40E inserted by No. 91/2004 s. 13.