14Reimbursement by State of regulated entities

14 Reimbursement by State of regulated entities

(1)  For the purposes of this section, an amount is foregone by a relevant regulated entity if the amount has not been payable to the entity because of concessions granted to customers of the entity.

(2)  A relevant regulated entity may, after 30 June, and 31 December, in a year, apply to the Treasurer for reimbursement of an amount foregone by the entity during the 6-month period ending 30 June or 31 December, respectively, in that year.

(3)  An application under subsection (2) is to contain the information required by the Treasurer from time to time.

(4)  If the Treasurer is satisfied that a relevant regulated entity has foregone an amount specified in an application made by the entity under subsection (2) , the Treasurer must pay the amount to the regulated entity.