105Surrender of retailer authorisation

105 Surrender of retailer authorisation

105 Surrender of retailer authorisation

(1) A retailer may surrender its retailer authorisation only if the AER has, on the retailer’s application, decided to approve the surrender.

(2) The application must provide the information required by the AER Retailer Authorisation Guidelines.

(3) The AER may decide to approve the surrender if the AER is satisfied that arrangements relating to the surrender will appropriately manage the transfer of any retail customers.

(4) In deciding to approve the surrender of a retailer authorisation, the AER—

(a) may, after consulting AEMO, impose conditions for the transfer of customers to another retailer; and

(b) must fix a time, no later than 6 months after deciding the application, for the surrender to take effect.

(5) Without limitation, a condition may require the surrendering retailer (or former retailer) to abide by specified requirements of energy laws, with any modifications specified in the condition. Any such requirement may continue, to the extent necessary, to apply to the retailer after the surrender of the retailer authorisation.

(6) The AER must publish on its website a copy of its decision to approve the surrender of the retailer authorisation, including the reasons and any conditions that are imposed.

(7) The AER must advise AEMO and the distributors concerned where a retailer authorisation is surrendered.

(8) Despite section 38, the explicit informed consent of a small customer is not required in relation to the surrender of a retailer authorisation under this Division.

(9) A surrendering retailer (or former retailer) must comply with any conditions imposed on the surrendering retailer (or former retailer) under this section.

Note—

This subsection is a civil penalty provision.