20Meaning of relevant regulatory function or power

20 Meaning of relevant regulatory function or power A relevant regulatory function or power is— (a) a function or power the ESC had, immediately before the transitional period commencement date, under a relevant regulatory law or instrument that relates to the economic regulation of the provision of distribution services by a relevant distributor other than a function or power— (i) to (or refuse to) grant, vary, revoke, or approve the transfer of, a distribution licence; or (ii) to make or amend a code or guideline that relates to the provision of distribution services; or (b) a function or power the ESC has under— (i) a specified distribution licence condition; or (ii) a specified ESC code or guideline provision. S. 21 inserted by No. 66/2007 s. 5.