Div 9AEMO's statutory funds

Division 9—AEMO's statutory funds 91J—Definitions Rule fund means— (a) a fund— (i) established under legislation of a participating jurisdiction (whether primary or subordinate); and (ii) administered by a former gas market operator immediately before the relevant changeover date; and (iii) transferred to AEMO's administration on or after that date; or (b) a fund established as a Rule fund under this Division. 91JA—AEMO's Rule funds (1) Subject to the Rules— (a) the Rule funds in existence on the relevant changeover date vest in AEMO; and (b) AEMO then becomes (and will continue to be) responsible for the administration of the Rule funds then in existence; and (c) AEMO will be responsible for the administration of a Rule fund established after the relevant changeover date as from the establishment of the fund. (2) AEMO must, if required to do so by the Rules or the Procedures, establish and maintain a new Rule fund in accordance with the Rules or the Procedures. (3) Nothing in this Law, the Rules or the Procedures constitutes AEMO, or a director of AEMO, as a trustee of a Rule fund. 91JB—Payments into and out of Rule funds (1) AEMO must ensure that there is paid into each Rule fund— (a) all amounts received by AEMO that, under the Rules or the Procedures, are required to be paid into the fund; and (b) income from investment of money in the fund. (2) Money held in a Rule fund may be applied only in payment of— (a) amounts that, under the Rules or the Procedures, are required or permitted to be paid from the fund; or (b) liabilities or expenses of the fund. 91JC—Investment (1) AEMO may invest money standing to the credit of a Rule fund. (2) AEMO must, in exercising the power of investment, exercise the care, diligence and skill that a prudent person would exercise in managing the affairs of others. Division 10—Immunity 91K—Immunity from liability (1) Neither AEMO nor an officer or employee of AEMO incurs any civil monetary liability for an act or omission in the performance or exercise, or purported performance or exercise, of a function or power under this Law, the Rules or the Procedures unless the act or omission is done or made in bad faith or through negligence. (2) The civil monetary liability for an act or omission of a kind referred to in subsection (1) done or made through negligence may not exceed the maximum amount prescribed by the Regulations. (3) The Regulations prescribing a limitation of civil monetary liability for the purposes of subsection (2)— (a) may limit its application, or vary the maximum amount, according to— (i) the nature of the functions or powers out of which the liability arises; or (ii) the market to which the liability relates; or (iii) the nature of the events or circumstances out of which the liability arises; or (iv) the nature of the damage or loss; or (v) the person or persons suffering damage or loss; or (vi) the season or period in which the liability is incurred; or (vii) any combination of the above; and (b) may prescribe the manner in which a maximum amount is to be divided among claimants. (4) AEMO may enter into an agreement with a person varying or excluding the operation of a provision of this section and this section will then apply to that person subject to that agreement. (5) This section does not apply to any liability of an officer or employee of a body corporate to the body corporate. 91KA—Supply interruption or disconnection in compliance with AEMO's direction (1) A distributor incurs no civil monetary liability for interrupting or disconnecting the supply of covered gas to an end user in compliance or purported compliance with a direction given by AEMO under Rules related to user exit from a regulated retail gas market. (2) The immunity does not extend to an act or omission done or made in bad faith or through negligence. (3) The civil monetary liability for an act or omission of a kind referred to in subsection (1) done or made through negligence may not exceed the maximum amount prescribed by the Regulations. (4) The Regulations may, for the purposes of subsection (3)— (a) prescribe a limitation of liability that is limited in its application to persons, events, losses or periods specified in the Regulations; (b) prescribe a limitation of liability that varies in amount according to the persons to whom, or the events, circumstances, losses or periods to which, it is expressed to apply; distributor means the service provider that provides pipeline services by means of a distribution pipeline and includes an officer, employee or agent of the service provider. 91KB—Immunity in relation to use of computer software (1) A protected person incurs no civil monetary liability for loss or damage suffered by a Registered participant or other person in consequence of the use of computer software to operate a gas market. (b) a former gas market operator; or (c) an officer, employee or agent of AEMO or a former gas market operator. 91KC—Immunity from liability—dispute resolution (1) A protected person incurs no civil monetary liability for an act or omission in the exercise of powers or functions related to dispute resolution under the Rules unless the act or omission is done or made in bad faith. (a) a person appointed under the Rules to manage and facilitate dispute resolution under or in relation to the Rules or the Procedures; or (b) an arbitrator, mediator or other person appointed to resolve, or assist in the resolution of, disputes under or in relation to the Rules or the Procedures; or (c) a person or class of persons to which the protection of this section is extended by the Regulations.