308Draft Rule determination

308 Draft Rule determination

308 Draft Rule determination

(1) The AEMC must make a draft Rule determination before making a final Rule determination in relation to the proposed Rule.

(2) Subject to this Chapter, the AEMC must, within 10 weeks after the date specified in a notice under section 303, publish—

(a) the draft Rule determination; and

(b) notice of the making of the draft Rule determination.

(3) In the case of a proposed Rule to which section 305 applies, the AEMC must publish the draft Rule determination and notice of the making of the draft Rule determination within 5 weeks after the date notice under section 303(2) is published.

(4) A draft Rule determination must contain—

(a) the reasons of the AEMC as to whether or not it should make the proposed Rule, including—

(i) in the case where the proposed Rule is not a proposed more preferable Rule, the reasons of the AEMC as to whether it is satisfied the proposed Rule will or is likely to contribute to the achievement of the national gas objective; and

(ii) in the case of a proposed more preferable Rule, the reasons of the AEMC as to whether it is satisfied the proposed more preferable Rule will or is likely to better contribute to the achievement of the national gas objective than the market initiated Rule request to which the more preferable Rule relates; and

(iii) if the AEMC is required to take into account the form of regulation factors or the revenue and pricing principles, the reasons of the AEMC taking those factors or principles (as the case requires) into account; and

(iv) the reasons of the AEMC having regard to any relevant MCE statement of policy principles; and

(v) the reasons of the AEMC having regard to any other matters the AEMC considers relevant; and

(b) if the AEMC determines to make a Rule, a draft of the Rule to be made; and

(c) any other matters that are prescribed by the Regulations.

(4a) The draft of the Rule to be made need not be the same as the draft of the proposed Rule to which the notice under section 303 relates.