2014
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)
(Treasurer)
Independent Competition and Regulatory Commission (Water and Sewerage Price Direction) Bill 2014

Contents
	Page
	1	Name of Act	2
	2	Commencement	2
	3	Notes	2
	4	Meaning of terms of reference	2
	5	Meaning of water and sewerage price direction	3
	6	Terms of reference—effect	3
	7	Water and sewerage price direction—effect	3

	8	Industry panel review of water and sewerage price direction—regulatory period	3
	9	Expiry—Act	4

2014
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)
(Treasurer)
Independent Competition and Regulatory Commission (Water and Sewerage Price Direction) Bill 2014

A Bill for
An Act about an Independent Competition and Regulatory Commission price direction and the terms of reference for the direction

    

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1	Name of Act
This Act is the Independent Competition and Regulatory Commission (Water and Sewerage Price Direction) Act 2014.
2	Commencement
This Act commences on the day after its notification day.
Note	The naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).
3	Notes
A note included in this Act is explanatory and is not part of this Act.
Note	See the Legislation Act, s 127 (1), (4) and (5) for the legal status of notes.
4	Meaning of terms of reference
In this Act:
terms of reference means the terms of reference determined in the Independent Competition and Regulatory Commission (Regulated Water and Sewerage Services) Terms of Reference Determination 2011 as amended by the Independent Competition and Regulatory Commission (Regulated Water and Sewerage Services) Terms of Reference Amendment Determination 2013 and the Independent Competition and Regulatory Commission (Regulated Water and Sewerage Services) Terms of Reference Amendment Determination 2013 (No 2).
5	Meaning of water and sewerage price direction
In this Act:
water and sewerage price direction means the price direction made by the Independent Competition and Regulatory Commission titled Price Direction—Regulated Water and Sewerage Services 1 July 2013 to 30 June 2019 Report 6 of 2013, June 2013.
Note	The water and sewerage price direction is accessible at www.icrc.act.gov.au.
6	Terms of reference—effect
To remove any doubt, the terms of reference have effect, and are taken always to have had effect, for all purposes as if a period were specified in the terms of reference.
7	Water and sewerage price direction—effect
To remove any doubt, the water and sewerage price direction has effect, and is taken always to have had effect, for all purposes as if a period were specified in the terms of reference.
8	Industry panel review of water and sewerage price direction—regulatory period
	(1)	To remove any doubt, an industry panel review of the water and sewerage price direction may determine the regulatory period in which the direction, or a new price direction substituted for the direction, is effective.
	(2)	Unless approved by the Minister, a regulatory period determined by an industry panel review of the water and sewerage price direction must not be longer than 6 years starting on 1 July 2013.
	(3)	In this section:
industry panel—see the Independent Competition and Regulatory Commission Act 1997, section 24M.
price direction—see the Independent Competition and Regulatory Commission Act 1997, dictionary.
review means a review under the Independent Competition and Regulatory Commission Act 1997, part 4C (Review of price directions).
9	Expiry—Act
This Act expires 2 years after the day it commences.
Note	Any validating effect of a law does not end merely because of the repeal of the law (see Legislation Act, s 88 (1)).

Endnotes
1	Presentation speech
	Presentation speech made in the Legislative Assembly on 10 April 2014.
2	Notification
	Notified under the Legislation Act on	2014.
3	Republications of amended laws
	For the latest republication of amended laws, see www.legislation.act.gov.au.

© Australian Capital Territory 2014