64Regulator

64 Regulator

64 Regulator

(1) The Minister is to appoint one of the following as the regulator—

(a) the AER,

(b) the Tribunal,

(c) a person prescribed by the regulations.

(2) More than 1 regulator may be appointed.

(3) The functions of the regulator are to be exercised by the Tribunal at any time during which a person or body is not appointed as the regulator.

(4) Subject to limitations in the instrument of appointment, a regulator has the following functions—

(a) to issue guidelines in relation to the exercise of functions by the persons and bodies appointed under this Act,

(b) other functions prescribed by the regulations,

(c) other functions conferred or imposed on the regulator by or under this or another Act or law.

(5) In the exercise of functions under this Act, a regulator is not subject to the control or direction of the Minister.