Part 16Transitional provisions for rate of return instrument

Part 16—Transitional provisions for rate of return instrument 29—Definitions 2013 non‑binding guideline means the guideline about determining the rate of return on capital issued by the AER in 2013; review, of the 2013 non‑binding guideline, means the review of the guideline started by the AER in 2017; stakeholders means— (a) regulated network service providers and consumer organisations; or (b) network service users and prospective network service users; or (c) any of the following persons the AER considers appropriate to give the AER advice or comment about the review of the 2013 non‑binding guideline— (i) persons engaged by a regulated network service provider, a consumer organisation or another entity to give the advice or comment; (ii) other persons the AER considers have the qualifications or experience appropriate to give the advice or comment; (d) other persons the AER considers have an interest in the review of the 2013 non‑binding guideline. 30—Making first rate of return instrument if review not completed before commencement (a) the review of the 2013 non‑binding guideline is not completed before the commencement of this clause; and (b) the AER has sought advice or comment from stakeholders in relation to the review; and (c) at least 3 months before making the first rate of return instrument, the AER has published on its website a draft of the proposed first rate of return instrument or proposed new non‑binding guideline under the Rules; and (d) the draft instrument or guideline has been reviewed by an independent panel consisting of at least 3 members with qualifications or experience the AER considers appropriate to conduct the review. (2) Part 3 Division 1B Subdivision 3 does not apply in relation to making the first rate of return instrument. (3) The independent panel mentioned in subclause (1)(d) must seek to give the AER a consensus report on the panel's review. (4) However, a failure to give the AER a consensus report does not affect the making of the first rate of return instrument. 31—Making first rate of return instrument if review completed before commencement (1) This clause applies if, before the commencement of this clause— (a) the review of the 2013 non‑binding guideline was completed and a new non‑binding guideline is in force under the Rules; and (b) the AER sought advice or comment from stakeholders in relation to the review; and (c) at least 3 months before making the new non‑binding guideline, the AER published on its website a draft of the proposed new non‑binding guideline; and (d) the draft was reviewed by an independent panel consisting of at least 3 members with qualifications or experience the AER considered appropriate to conduct the review; and (e) the independent panel gave the AER a report on the panel's review. (2) The new non‑binding guideline is taken to be the first rate of return instrument on the commencement. (3) For section 18U, the instrument is taken to have been published on the AER's website on the commencement. (4) The report mentioned in subclause (1)(e) need not be a consensus report on the panel's review. 32—Application of this Law to particular decisions (1) The amended Law applies in relation to an AER economic regulatory decision made after the commencement even if any action or process for making the decision started before the commencement. (2) However, subclause (1) does not apply in relation to an AER economic regulatory decision made before the commencement that has been remitted back to the AER to make the decision again. amended Law means this Law as amended by the Statutes Amendment (National Energy Laws) (Binding Rate of Return Instrument) Act 2018; commencement means the commencement of Part 3 Division 1B.