91BMNature of Wholesale Market Procedures

91BM Nature of Wholesale Market Procedures

91BM Nature of Wholesale Market Procedures

(1) Wholesale Market Procedures are a form of statutory instrument directed at the regulation of a declared wholesale gas market.

(2) The Wholesale Market Procedures may deal with the following matters—

(a) the matters specified by the Rules;

(b) any other matter relevant to a declared wholesale gas market on which this Law or the Rules contemplate the making of Procedures.

(3) The Wholesale Market Procedures—

(a) may vary according to the persons, times, places or circumstances to which they are expressed to apply; and

(b) may confer functions or powers on, or leave any matter or thing to be decided by, AEMO; and

(c) may confer rights or impose obligations on Registered participants, exempted participants, or other persons; and

(d) may require a Registered participant or an exempted participant to give an indemnity against injury, damage or loss arising from the participant’s failure to comply with requirements imposed by the Procedures; and

(e) may confer power on AEMO to make or issue guidelines, tests, standards and other documents of an administrative nature; and

(f) may confer power on AEMO to require a person on whom a right is conferred, or an obligation imposed, under the Procedures—

(i) to comply with a guideline, standard or other document of an administrative nature; or

(ii) to conduct, or submit to, a test designed by AEMO; and

(g) may exempt, or confer a power of exemption, from the application of the Procedures or specified provisions of the Procedures; and

(h) may contain provisions of a savings or transitional nature.

(4) AEMO must not, without the consent of the MCE, make Wholesale Market Procedures that confer a right or function, or impose an obligation, on the MCE or a Minister of a participating jurisdiction.

(5) The Wholesale Market Procedures cannot—