56Regulatory functions of IPART

56 Regulatory functions of IPART

56 Regulatory functions of IPART

(1) The regulatory functions of IPART under this Act are as follows—

(a) the function of making recommendations under subsection (2),

(b) the functions of monitoring and reporting or informing under subsection (3),

(c) the auditing functions of IPART under subsection (4),

(d) the function of determining the operating licence fee (if any),

(e) the function of imposing monetary penalties or requiring other action to be taken under section 17,

(f) such other functions of IPART under this Act as are specified by the regulations for the purposes of this section.

(2) IPART has the function of making recommendations to the portfolio Minister for or with respect to—

(a) the granting, amendment or cancellation of an operating licence, and

(b) the imposition, amendment or cancellation of conditions in relation to an operating licence, and

(c) action to be taken, and sanctions to be applied, in respect of a contravention of an operating licence, and

(d) remedial action that may be warranted as a result of a contravention of an operating licence.

(3) IPART has the functions of—

(a) monitoring and reporting to the portfolio Minister on compliance by Water NSW with its operating licences, and

(b) informing the portfolio Minister about any failure of Water NSW to meet operational standards or any other requirements imposed on Water NSW under its operating licences.

(4) IPART has such functions as may be conferred or imposed on it by an operating licence in connection with operational audits of Water NSW.