49RDefinitions

49R Definitions In this Division— ***accrual building block methodology***—see section 49S; ***competitively neutral price***, for a relevant service, means the price, determined through the application of the competitively neutral pricing principles, that is the lower of— (a) the price which is likely to enable the recovery of the efficient costs attributable to any State cost contribution and any private cost contribution in providing the relevant service; and (b) the price at which the port of Melbourne operator provides a service that is economically substitutable for the relevant service, having regard to any material differences between the quality or scope of the relevant service and the quality or scope of the economically substitutable service; ***competitively neutral pricing principles*** means the principles specified in an Order under section 49ZC; ***handling***, in relation to a container, includes loading, unloading, transporting or storing; ***private cost contribution*** means the amount of any capital invested by a private sector entity in, or expenses incurred by a private sector entity in operating, a State sponsored port; ***private sector entity*** has the same meaning as in the **Delivering Victorian Infrastructure (Port of Melbourne Lease Transaction) Act 2016**; ***relevant service*** means any of the following services provided at a State sponsored port for the purpose of enabling the handling, at that port, of containers that are being transported from, or are to be transported to, a destination outside of Australia— (a) the provision of channels used by vessels to access the State sponsored port; (b) the provision of berths, buoys or dolphins in connection with the berthing of vessels carrying container cargoes in the State sponsored port; (c) the provision of short term storage or cargo marshalling facilities in connection with the loading or unloading of vessels carrying container cargoes at berths, buoys or dolphins in the State sponsored port; (d) a service that is prescribed; ***State cost contribution*** means an amount reflecting the net competitive advantage conferred on or given to a State sponsored port operator and includes— (a) an exemption from a requirement to pay a State tax or charge; and (b) an exemption under a law of the State; and (c) an explicit or implicit guarantee of debt executed or otherwise given by the State or by a Minister on behalf of the State; and (d) a concessional interest rate on a loan given by a public sector entity; and (e) an exemption from a requirement to account for depreciation expenses; and (f) an exemption from a requirement to earn a commercial rate of return on assets; and (g) a matter or thing referred to in section 49T(2); ***State sponsored port***—see section 49T; ***State sponsored port operator*** means an operator of a State sponsored port. S. 49S inserted by No. 10/2016 s. 108.