134Regulations

134 Regulations (1) Regulations may be made that specify a form of price regulation for prescribed services. (2) Without limiting subsection (1), the form specified may include any, or a combination, of the following: (a) monitoring the price levels of a specified prescribed service; (b) requiring private port operators or private pilotage providers to comply with pricing policies or principles; (c) fixing the price of a prescribed service or the rate of increase or decrease in such a price; (d) fixing a maximum price for a specified prescribed service; (e) fixing a maximum revenue in relation to a specified prescribed service; (f) applying an average price cap to a basket of prescribed services; (g) revenue yield control; (h) any other form of economic regulation used by an independent regulatory body. (3) However, regulations may only be made under this section that change the form of price regulation for prescribed services then applying if the Minister certifies in writing to the Administrator that: (a) the draft regulations are consistent with a written recommendation for that change made to the Minister by the Regulator following a process of public consultation on the proposed change engaged in by the Regulator, including consultation with private port operators and private pilotage providers likely to be affected by the proposed change; and (b) the Minister is satisfied that the likely cost of the proposed changed form of price regulation will not outweigh the benefits of applying it. (4) Regulations under this section must not be inconsistent with the access and pricing principles specified in section 133. Ports Management Act 2015 100 independent regulatory body means a body established under an Act of the Territory, the Commonwealth, a State or another Territory that: (a) is not subject to direction or control by a Minister of that jurisdiction; and (b) has a function relating to the regulation of access to a service, or the economic regulation of services, provided by a facility.