170Application for retailer authorisation by failed retailer or associate

170 Application for retailer authorisation by failed retailer or associate

170 Application for retailer authorisation by failed retailer or associate

(1) If a failed retailer or an associate of a failed retailer applies for a retailer authorisation, the AER may—

(a) refuse the application on the ground that the applicant is a failed retailer or an associate of a failed retailer; or

(b) grant the application on the condition that the applicant pays a proportion or the whole of the costs of a prior RoLR event as determined by the AER.

(2) Any payment determined by the AER under subsection (1) is to be made to the relevant distributors (as determined by the AER) and—

(a) in the case of electricity—the determination by the AER is taken to be a regulatory change event and negative change event for the purposes of the NER and the payment is taken to be a negative pass through amount approved by the AER under the NER; and

(b) in the case of gas—the payment is taken to be an approved pass through allowing variation of a distributor’s reference tariffs.

(3) Subsection (1) does not limit the operation of Part 5 in relation to an application referred to in that subsection.

(4) In this section—

associate, in relation to a failed retailer, has the same meaning it would have under Division 2 of Part 1.2 of the Corporations Act 2001 of the Commonwealth if sections 13, 16(2) and 17 did not form part of that Act.