Gas Act 1992

55 Regulations relating to information disclosure

• (1) The Governor-General may from time to time, by Order in Council, make regulations for all or any of the following purposes:

  • (a) requiring every gas wholesaler to publish in the prescribed manner information in relation to the supply of gas by that gas wholesaler (including gas supplied direct to a consumer); and prescribing the information, including (without limitation) prices, terms, and conditions, that the gas wholesaler shall make available:

  • (b) requiring gas wholesalers, pipeline owners, and gas retailers to make publicly available prescribed financial statements that follow generally accepted accounting principles, including (without limitation) statements of financial performance and statements of financial position and statements of accounting principles:

  • (c) requiring every pipeline owner to publish in the prescribed manner information in relation to the conveyance of gas by means of pipelines owned by that pipeline owner; and prescribing the information that the pipeline owner shall make available, which information may include (without limitation)—

    • (i) prices, terms, and conditions:

    • (ii) pricing policies and methodologies:

    • (iii) costs:

    • (iv) cost allocation policies and methodologies:

    • (v) performance measures, or information from which performance measures may be derived, or both:

    • (vi) the amount of gas conveyed:

    • (vii) the capacity of the pipeline owner’s pipelines, and the methodology used to measure that capacity:

  • (d) requiring every gas retailer to publish in the prescribed manner information in relation to gas and prescribed related services supplied by the gas retailer; and prescribing the information, including (without limitation) the prices, terms, and conditions, that every gas retailer shall make available:

  • (e) prescribing the form and manner in which the financial statements required by regulations made under paragraph (b) shall be made available:

  • (f) prescribing the form of statutory declaration and by whom it shall be made for the purposes of section 56:

  • (g) requiring, in respect of statements or information required from pipeline owners,—

    • (i) the adoption, in the preparation or compilation of those statements or that information, of such methodology as is prescribed in the regulations or in any document published by or under the authority of the Secretary and referred to in the regulations:

    • (ii) the disclosure, in the prescribed manner, of the methodology adopted in the preparation or compilation of those statements or that information:

    • (iii) the inclusion of any matters prescribed in any document published by or under the authority of the Secretary and referred to in the regulations:

  • (h) requiring that any statements or information required, by regulations made pursuant to this section, to be made available, or information from which those statements or that information is derived (in whole or in part), be certified, in the prescribed form and manner, by persons belonging to any class of persons specified in that behalf in the regulations:

  • (ha) requiring, in respect of any person that is required to publish information or to make publicly available prescribed financial statements, that that person include with or in that information, or with or in those prescribed financial statements, information or statements in respect of prescribed business relationships involving that person and involving the supply of gas or the provision of prescribed related services; and, for this purpose, prescribed business relationships involving activities conducted by, or occurring within, 1 person only are included:

  • (i) prescribing the time limits within which the information disclosure required by any regulations made pursuant to this subsection shall be made to the public:

  • (j) requiring gas distributors and gas retailers, in charging for the conveyance of gas, or the supply of gas, or both, to disclose, in the prescribed manner, charges, or components of charges, or both:

  • (k) exempting or providing for the exemption of any person or class of persons from all or any of the requirements of any regulations made under this subsection.

  (2) The regulations may not require the disclosure of the names of the parties to, or the terms and conditions of, contracts made before 1 August 1990 but, if the contract is modified after that date, the regulations may require the disclosure of information as to the modification, the term or condition that has been modified (including its context), and the names (or characteristics) of the parties.

  (3) Notwithstanding section 1(3) of this Act, and without limiting section 11 of the Interpretation Act 1999, no regulations made under this section may be expressed to come into force before 1 April 1993.

  (4) References in this section to pipeline owners, gas wholesalers, gas retailers, and gas distributors include any person that is or was such a person for any part of a financial year.

  Compare: 1987 No 116 s 5C; 1990 No 21 s 3

  Section 55(1)(b): substituted, on 28 September 1993, by section 3(1) of the Gas Amendment Act 1993 (1993 No 144).

  Section 55(1)(b): amended, on 1 October 1997, pursuant to section 6(1) of the Financial Reporting Amendment Act 1997 (1997 No 17).

  Section 55(1)(b): amended, on 1 October 1997, pursuant to section 6(2) of the Financial Reporting Amendment Act 1997 (1997 No 17).

  Section 55(1)(c): amended, on 27 September 2001, by section 5(1) of the Gas Amendment Act 2001 (2001 No 67).

  Section 55(1)(d): amended, on 28 September 1993, by section 3(2) of the Gas Amendment Act 1993 (1993 No 144).

  Section 55(1)(g): substituted, on 27 September 2001, by section 5(2) of the Gas Amendment Act 2001 (2001 No 67).

  Section 55(1)(ha): inserted, on 28 September 1993, by section 3(3) of the Gas Amendment Act 1993 (1993 No 144).

  Section 55(1)(ha): amended, on 15 November 2000, by section 3 of the Gas Amendment Act 2000 (2000 No 69).

  Section 55(2): substituted, on 27 September 2001, by section 5(3) of the Gas Amendment Act 2001 (2001 No 67).

  Section 55(3): amended, on 1 November 1999, pursuant to section 38(1) of the Interpretation Act 1999 (1999 No 85).

  Section 55(4): added, on 27 September 2001, by section 5(4) of the Gas Amendment Act 2001 (2001 No 67).