91BRINature of STTM Procedures

91BRI Nature of STTM Procedures

91BRI Nature of STTM Procedures

(1) STTM Procedures are a form of statutory instrument directed at the regulation of a short term trading market.

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

(a) the matters specified by the Rules;

(b) any other matter relevant to a short term trading market on which this Law or the Rules contemplate the making of Procedures.

(3) The STTM 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 STTM trading participants, exempted participants, or other persons; and

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

(e) 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

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

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

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

(5) The STTM Procedures cannot—

(a) create an offence; or

(b) provide for a criminal or civil penalty.

s 91BRI: Ins 2009 No 46, sec 9.