Water and Sewerage Industry (Community Service Obligation) Act 2009
9Concession rate
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9 Concession rate
(1) The regulations must prescribe an amount in dollars to be the base amount for regulated entities for each financial year.
(2) The regulations may prescribe a percentage amount by which the base amount for regulated entities under subsection (1) is to be increased or decreased for a financial year.
(3) If the regulations prescribe a percentage amount by which the base amount for regulated entities is to be increased or decreased for a financial year then, despite subsection (1) –
(a) the base amount for regulated entities for that financial year is increased or decreased in accordance with that percentage amount; and
(b) the base amount for regulated entities for each subsequent financial year is the base amount for the previous year, as increased or decreased, if at all, for that subsequent financial year under paragraph (a) .
(4) The concession amount for a billing period in respect of a regulated entity is, for each day, within the billing period, for which the concession applies in accordance with section 7 , the amount equal to 1/365th of the base amount for the regulated entity for the financial year.