Div 7Effect of awards

Division 7—Effect of awards 35—Operation of award (1) Subject to this clause, an award is binding on the parties to the arbitration in which it is made. (2) An award has effect 21 days after it is made unless the access seeker, before that time, elects not to be bound by it. (3) An access seeker may, within 7 days after the making of an award, or such further time as the regulator may allow, elect not to be bound by the award by giving written notice of the election to the regulator. (4) The regulator must, within 7 days after receiving a notice of election under subclause (3), notify the access provider and the other parties to the arbitration. (5) If the access seeker elects not to be bound by an award, the award is rescinded. (6) If— (a) an award is rescinded under subclause (5); and (b) the access seeker who elected not to be bound by the award makes a new access proposal under this Code, the regulator may, on application by the access provider, determine that the new access proposal should not proceed if, in the opinion of the regulator— (c) in a case where the new access proposal is the same as, or similar to, the access proposal in relation to which the award was made—the access seeker is acting unreasonably in view of the period of time between the rescission of the award and the making of the new access proposal; (d) the access seeker has not acted, or is not acting, in good faith; or (e) there is some other good reason why the new access proposal should not proceed. (7) A determination of the regulator under subclause (6) will have effect according to its terms.