27Proposed price determination

27 Proposed price determination

(1)  The Regulator must, before making a price determination under section 66 of the Act in respect of a regulated service to which a price determination investigation relates –

(a) prepare a proposed price determination in respect of the regulated service; and

(b) consider all submissions received by the Regulator within the period specified under subregulation (4) in the covering notice in relation to the proposed price determination.

(2)  The Regulator is to –

(a) provide a copy of a proposed price determination to the Treasurer together with a covering notice; and

(b) provide a copy of a proposed price determination to each regulated entity to which the proposed price determination relates, together with a covering notice.

(3)  A proposed price determination is to include a statement of the purpose of, and the reasons for the decisions contained in, the proposed price determination.

(4)  The covering notice referred to in subregulation (2) is to invite persons to make submissions to the Regulator, at an address specified in the proposed price determination, in relation to the proposed price determination within the period specified in the notice.