Independent Competition and Regulatory Commission Act 1997
24TEffect of decision
Start here
Get a plain-English read of 24T
Turn the raw legal text into a practical explanation grounded in Independent Competition and Regulatory Commission Act 1997.
24T Effect of decision (1) If, as a result of a review, an industry panel substitutes a new price direction for the original— (a) each provision of the substituted direction comes into effect on— (i) a day ascertained in accordance with the direction; or (ii) if a day is not ascertained in accordance with the direction—14 days after the day the final report containing the direction is presented to the Legislative Assembly; and (b) each provision of the substituted direction remains in effect until a day ascertained in accordance with the direction; and (c) the date and period of effect of different provisions of the substituted direction may be different; and (d) this Act applies as if the substituted price direction were a price direction made by the commission (subject to subsection (2))— Example The substituted price direction may be varied under part 4B (Variation of price directions). (2) A substituted direction may not be reviewed under this part.