sec.53CCompliance with market information instrument

sec.53C Compliance with market information instrument

A market information instrument takes effect as follows— in the case of a general market information order—on publication on AEMO’s website; or in the case of a market information notice—on service of the notice on the person to whom it is addressed. AEMO may, by written notice, exempt a person from compliance with a general market information order— unconditionally or on specified conditions; and wholly or to a specified extent. Subject to any exemption, a person who is a member of a class to which a general market information order applies must comply with the order. Subsection (3) is a civil penalty provision. A person on whom a market information notice is served must comply with the notice. Subsection (4) is a civil penalty provision. The duty to comply with a market information instrument prevails over a duty of confidence. However— a person cannot be required by a market information instrument to disclose information that is the subject of legal professional privilege; and a natural person cannot be required by a market information instrument to disclose information that would incriminate the person or make the person liable to a criminal penalty under the law of an Australian jurisdiction (whether or not the jurisdiction is a participating jurisdiction). A person incurs no liability, by complying with a market information instrument, for breach of contract, breach of confidence or any other civil wrong. s 53C ins 2009 No. 31 (SA) s 17 amd 2011 No. 7 (SA) s 26 (sec.53C-ssec.1) A market information instrument takes effect as follows— in the case of a general market information order—on publication on AEMO’s website; or in the case of a market information notice—on service of the notice on the person to whom it is addressed. (sec.53C-ssec.2) AEMO may, by written notice, exempt a person from compliance with a general market information order— unconditionally or on specified conditions; and wholly or to a specified extent. (sec.53C-ssec.3) Subject to any exemption, a person who is a member of a class to which a general market information order applies must comply with the order. Subsection (3) is a civil penalty provision. (sec.53C-ssec.4) A person on whom a market information notice is served must comply with the notice. Subsection (4) is a civil penalty provision. (sec.53C-ssec.5) The duty to comply with a market information instrument prevails over a duty of confidence. (sec.53C-ssec.6) However— a person cannot be required by a market information instrument to disclose information that is the subject of legal professional privilege; and a natural person cannot be required by a market information instrument to disclose information that would incriminate the person or make the person liable to a criminal penalty under the law of an Australian jurisdiction (whether or not the jurisdiction is a participating jurisdiction). (sec.53C-ssec.7) A person incurs no liability, by complying with a market information instrument, for breach of contract, breach of confidence or any other civil wrong.