53AInvalid rate of return instrument

53A Invalid rate of return instrument

53A Invalid rate of return instrument

(1) This clause applies if the Court orders (by declaration or otherwise) that a rate of return instrument is invalid.

(2) The AER must make a new rate of return instrument under this Law to replace the invalid instrument.

(3) Until the invalid instrument is replaced, the rate of return on capital and the value of imputation credits under the invalid instrument continue to apply for the purposes of this Law.

(4) However, the AER must deal with any affected access arrangement decision to apply the new rate of return instrument to the decision as if the new instrument had applied from the start of the decision.

(5) Subclause (4) applies despite section 30Q(1).

(6) In this clause—

affected access arrangement decision means an access arrangement decision to which the invalid instrument applied or continued to apply;

deal with, an affected access arrangement decision, means to do either of the following the AER considers appropriate in the circumstances—

(a) revoke the decision and substitute a new decision;

(b) vary the decision.