124Price regulation exemptions deemed to be greenfields incentive determinations

124 Price regulation exemptions deemed to be greenfields incentive determinations

124 Price regulation exemptions deemed to be greenfields incentive determinations

(1) This clause applies in relation to a price regulation exemption if the exemption—

(a) has been granted before the commencement day; and

(b) immediately before the commencement day, is not ineffective only because of section 167(2) of the pre-amended Law.

Note—

Under section 167(2) of the pre-amended Law, a price regulation exemption is ineffective unless a limited access arrangement, approved by the AER, is in force in relation to the relevant pipeline.

(2) On the commencement day, the exemption is deemed to be a greenfields incentive determination.

(3) The greenfields incentive determination continues in operation for a period of 15 years from the commissioning of the pipeline.

Note—

Under section 167(1) of the pre-amended Law, if a price regulation exemption is granted, the exemption remains in force for a period of 15 years from the commissioning of the pipeline.