sec.118AYMinisterial order

sec.118AY Ministerial order

Following the making of a mandatory operation direction, the Minister must, by 1 or more written orders made in accordance with the Rules, direct that the payments set out in the order— be made by the financial vehicle to a MOD generator; or be made— by the financial vehicle to a MOD generator; and by a MOD generator to the financial vehicle. A payment order may specify the payments a MOD generator is to receive for the following: the reasonable costs directly related to operating and maintaining the relevant MOD generating unit and, in accordance with the Rules, a fair margin on those costs; a risk management margin, including risks associated with the relevant MOD generating unit being inoperable for 1 or more periods of time; other costs prescribed by the Rules. Payments for subsection (2) must be determined by the AER in accordance with the Rules. The Rules may make provision for the following: the period of time in which payments under a payment order must be made, including periods before or after the applicable mandatory operation period; additional matters to be dealt with in a payment order; circumstances in which the Minister must amend a payment order; other matters that may be addressed in a generator payment instrument. A MOD generator does not, by complying with a payment order, incur liability for breach of contract, breach of confidence or any other civil wrong. A person subject to a payment order must comply with the order. This subsection is a civil penalty provision: See the definition of civil penalty provision in section 2AA (1) . The Minister may amend a payment order by revoking the order and making a new order. In this section— MOD generator means a Registered participant subject to a mandatory operation direction. s 118AY ins 2024 No. 62 (SA) s 6 (sec.118AY-ssec.1) Following the making of a mandatory operation direction, the Minister must, by 1 or more written orders made in accordance with the Rules, direct that the payments set out in the order— be made by the financial vehicle to a MOD generator; or be made— by the financial vehicle to a MOD generator; and by a MOD generator to the financial vehicle. (sec.118AY-ssec.2) A payment order may specify the payments a MOD generator is to receive for the following: the reasonable costs directly related to operating and maintaining the relevant MOD generating unit and, in accordance with the Rules, a fair margin on those costs; a risk management margin, including risks associated with the relevant MOD generating unit being inoperable for 1 or more periods of time; other costs prescribed by the Rules. (sec.118AY-ssec.3) Payments for subsection (2) must be determined by the AER in accordance with the Rules. (sec.118AY-ssec.4) The Rules may make provision for the following: the period of time in which payments under a payment order must be made, including periods before or after the applicable mandatory operation period; additional matters to be dealt with in a payment order; circumstances in which the Minister must amend a payment order; other matters that may be addressed in a generator payment instrument. (sec.118AY-ssec.5) A MOD generator does not, by complying with a payment order, incur liability for breach of contract, breach of confidence or any other civil wrong. (sec.118AY-ssec.6) A person subject to a payment order must comply with the order. This subsection is a civil penalty provision: See the definition of civil penalty provision in section 2AA (1) . (sec.118AY-ssec.7) The Minister may amend a payment order by revoking the order and making a new order. (sec.118AY-ssec.8) In this section— MOD generator means a Registered participant subject to a mandatory operation direction.