24MIndustry panel

24M Industry panel (1) An application for review must be heard by a panel (an industry panel) of 3 members. (2) Provisions for the constitution of the panel and for the terms of office of the panel and panel members are set out in schedule 3. 24MA Application for review—preliminary assessment (1) An industry panel appointed to hear an application for review of a price direction must make a preliminary assessment of the application. (2) In making a preliminary assessment of the application, the industry panel must assess each ground for review. (3) After making a preliminary assessment of each ground for review, the industry panel must decide to— (a) accept the ground for review; or (b) reject the ground for review. (4) The industry panel must accept a ground for review only if the panel is satisfied that the ground for review— (a) raises a serious issue to be decided; and (b) provides a strong case for review, supported by sufficient evidence on the face of the application to justify the review. (5) If the industry panel rejects all the grounds for review in an application, the panel must dismiss the application.

(6) The industry panel may review an application under section 24N only if— (a) the panel has accepted a ground, or grounds for review; and (b) the panel is satisfied, having regard to the accepted ground or grounds for review, and to the commission’s objective when making a price direction, that a new price direction would be, or would be likely to be, materially better than the original price (7) The industry panel must give a statement of reasons for a decision under subsection (3) or subsection (6).