43KCertain contracts not required to be offered, &c., if minimum volume would be exceeded

43K Certain contracts not required to be offered, &c., if minimum volume would be exceeded

(1)  It is a defence to a charge of an offence against section 43I of failing, at a particular time –

(a) to offer to an authorised retailer an approved financial risk contract; or

(b) to enter into an approved financial risk contract with an authorised retailer –

if the Hydro-Electric Corporation establishes that the minimum electricity unit volume in relation to the contract would have been exceeded at the particular time.

(2)  For the purposes of subsection (1) , the minimum electricity unit volume in relation to an approved financial risk contract would have been exceeded at a particular time if –

(a) the contract would have been in one of the approved standard forms in relation to a type of contract specified in an approval under section 43G(1) ; and

(b) the contract would have related to a period, specified in accordance with section 43G(1)(d) , in the approval; and

(c) had the contract been entered into at the particular time, it would have related to a number of units of electricity, that, if added together to the total number of units of electricity to which any other contracts that –

(i) were in any of the approved standard forms specified in the approval; and

(ii) had been entered into before the particular time and related to the period referred to in paragraph (b)  –

related would have exceeded the minimum total quantity of units of electricity as determined in accordance with the formula, rules or methodology specified in the approval in accordance with section 43G(1)(e) .

(3)  If a minimum total quantity of units of electricity is specified, in accordance with section 43G(1)(e) , in an approval under section 43G(1) in relation to an approved type of contract, the Hydro-Electric Corporation must, at the request of an authorised retailer, provide to the authorised retailer accurate information as to the total number of units of electricity to which any other approved financial risk contracts that –