4Order declaring a regulated industry

4 Order declaring a regulated industry (1) Except as otherwise provided in this section, the Governor in Council may by Order declare an industry to be a regulated industry after having regard to— (a) the existence of significant and non-transitory market power; (b) the existence of regulatory benefits which exceed the administration and compliance costs of becoming a regulated industry; (c) the non-existence of economic regulation specific to that industry by another body under any other State or Commonwealth legislation. (2) The Order may declare— (a) which prices are to be prescribed prices in respect of a regulated industry; (b) which goods and services are to be prescribed goods and services in respect of a regulated industry; S. 4(2)(c) amended by No. 15/2008 s. 4(1). (c) powers that are to be exercised by the Commission in respect of a regulated industry under section 34; S. 4(2)(d) inserted by No. 15/2008 s. 4(2). (d) decisions or classes of decisions of the Commission under the powers conferred by the Order that are to be determinations for the purposes of this Act. (3) This section does not apply to the electricity industry or to the **Electricity Industry Act 2000**. (4) Subsection (3) does not affect any Order made before 20 June 1995. (5) This section does not apply to the gas industry or to the **Gas Industry Act 2001**. (6) Subsection (5) does not affect any Order made before 1 December 1998. (7) This section does not apply to— (a) railways and rail infrastructure; (b) tramways and tram infrastructure. S. 4(8) inserted by No. 48/2003 s. 11(2). (8) This section does not apply to the regulated water industry within the meaning of section 4A of the **Water Industry Act 1994**. S. 4(9) inserted by No. 10/2016 s. 169. (9) While a port Pricing Order is in effect, this section does not apply to— (a) the ports industry in the port of Melbourne within the meaning of the **Port Management Act 1995**; or (b) the **Port Management Act 1995** in respect of the port of Melbourne.