(1) Any person may complain, in writing, to a participant about any business activity of the participant that the person believes might constitute a breach of the rules.

(2) The participant must ensure that the complaint is promptly, thoroughly, and fairly investigated by the participant, and that appropriate remedial action is taken.

(3) The participant must promptly notify in writing the person who made the complaint of the result of the investigation and the remedial action (if any) taken by the participant.

(1) If any participant believes, on reasonable grounds, that it or another participant has breached the rules, that participant may notify the market administrator of that alleged breach.

(2) The notice must be in writing and must specify—

• (a) the participant that is alleged to have breached the rules; and

• (b) the rule allegedly breached; and

• (c) the alleged circumstances relating to the alleged breach; and

• (d) the estimated date and time on which the alleged breach occurred.

(1) Any consumer or other person (other than a participant) may notify the market administrator if the consumer or other person believes, on reasonable grounds, that—

• (a) a participant has breached the rules; and

• (b) the consumer or other person is affected by that alleged breach.

(2) The industry body may notify the market administrator of an alleged breach of the rules by a participant of which the industry body becomes aware by other means.

(1) If the registry operator or the allocation agent or the critical contingency operator believes, on reasonable grounds, that any other participant has breached the rules, then the registry operator or allocation agent or the critical contingency operator must notify the market administrator of the alleged breach as soon as possible.

(2) The notice must be in writing and must specify—

• (a) the participant that is alleged to have breached the rules; and

• (b) the rule allegedly breached; and

• (c) the alleged circumstances relating to the alleged breach; and

• (d) the estimated date and time on which the alleged breach occurred.

(3) The registry operator or allocation agent or critical contingency operator may include notices under subclause (2) in regular reports to the market administrator as agreed between the registry operator or allocation agent or critical contingency operator and the market administrator.

(4) If, during the course of an audit carried out under Part 4 of the Gas (Downstream Reconciliation) Rules 2008 or an audit carried out under regulations 42 and 83 of the Gas Governance (Critical Contingency Management) Regulations 2008, the auditor determines that there may have been an alleged breach of those rules, then the auditor must notify the market administrator of that alleged breach at the same time as it provides the final audit report to the industry body.

(1) If the market administrator receives a breach notice, the market administrator must—

• (a) acknowledge receipt of the breach notice in any manner considered appropriate by the market administrator; and

• (b) notify the participant allegedly in breach of the following:

  • (i) the name of the notifying participant or other person that gave the breach notice; and

  • (ii) the rule allegedly breached; and

  • (iii) the alleged circumstances relating to the alleged breach; and

  • (iv) the estimated date and time on which the alleged breach occurred.

(2) The market administrator must use reasonable endeavours to give the acknowledgement and notice within 5 business days of receiving the breach notice.

(1) At the same time as the market administrator gives notice under regulation 12(1)(b), the market administrator must notify all other participants of the contents of that notice.

(2) Within 5 business days after the market administrator notifies the participants of the content of the notice under subclause (1), any participant may notify the market administrator that it considers that it is affected by the alleged breach and wishes to become a party to the breach notice.

(3) The participant is then joined as a party to the breach notice.

(1) The market administrator may request information about the circumstances of the alleged breach from any of the following:

• (a) the notifying participant or other person that gave the breach notice:

• (b) the participant that is allegedly in breach:

• (c) the registry operator or the allocation agent or the critical contingency operator:

• (d) any other participant that has joined as a party to the breach notice.

(2) Any person who is requested to provide information in accordance with subclause (1) must disclose it to the market administrator as soon as practicable, to the extent practicable.

(1) The market administrator must keep confidential all information provided or disclosed to it except to the extent that disclosure—

• (a) is required to enable the market administrator to carry out its obligations under these regulations or the rules; or

• (b) is otherwise compelled by a law other than these regulations.

(2) Participants that provide or disclose information to the market administrator must identify to the market administrator any information that the participant considers to be confidential and should not be published under regulation 22.

(1) If these regulations require any notice to be given, the notice must be in writing and be—

• (a) delivered by hand to the nominated office of the addressee; or

• (b) sent by post to the nominated postal address of the addressee; or

• (c) sent by fax to the nominated fax number of the addressee; or

• (d) sent by electronic transmission or any other similar method of electronic communication to the nominated electronic address of the addressee.

(2) In the case of an emergency, a person may give notice other than in accordance with subclause (1), but the person must, as soon as practicable, confirm the notice in writing and by a method set out in subclause (1).

In the absence of proof to the contrary, notices are taken to be given,—

• (a) in the case of notices delivered by hand to a person, when actually received at that person's address; and

• (b) in the case of notices sent by post, at the time when the letter would be delivered in the ordinary course of post; and in proving the delivery, it is sufficient to prove that the letter was properly addressed and posted; and

• (c) in the case of notices sent by fax, at the time indicated on a record of its transmission; and

• (d) in the case of notices sent by electronic transmission or any other similar method of electronic communication, at the time—

  • (i) the computer system used to transmit the notice has received an acknowledgement or receipt to the electronic mail address of the person transmitting the notice; or

  • (ii) the person who gave the notice proves the notice was transmitted by computer system to the electronic address provided by the addressee.

(1) The market administrator must determine whether an alleged breach raises a material issue on the information provided in the breach notice and any other information obtained in accordance with regulation 14.

(2) If, in the opinion of the market administrator, the alleged breach does not raise a material issue, the market administrator may—

• (a) determine to take no action on the alleged breach; or

• (b) attempt to resolve the alleged breach with the agreement of the parties, in accordance with regulation 21.

(3) If, in the opinion of the market administrator, the alleged breach does raise a material issue, the market administrator must refer the alleged breach to an investigator for investigation.

(4) If the market administrator is unable to determine whether an alleged breach raises a material issue because the market administrator cannot obtain sufficient information, the market administrator must refer the alleged breach to an investigator for investigation.

(5) The market administrator may decline to make a determination in respect of an alleged breach that relates to a matter that has already been referred to, or that the market administrator considers is more properly dealt with by, either—

• (a) the Electricity and Gas Complaints Commission; or

• (b) any other complaints resolution system that is approved under section 43E of the Act or for which provision is made by any rules or regulations made under section 43G(2)(a) of the Act.

(1) The market administrator must, in determining whether or not an alleged breach raises a material issue, take into account the following factors, to the extent that they are practical or relevant:

• (a) the severity of the alleged breach:

• (b) whether the alleged breach had a material impact on the operation of the market:

• (c) the extent to which the breach was inadvertent, negligent, deliberate, or otherwise:

• (d) whether the participant allegedly in breach took remedial action immediately upon, or soon after, discovery of the breach:

• (e) whether the alleged breach has a potential anti-competitive effect:

• (f) whether the alleged breach has resulted in costs being borne by other participants or persons:

• (g) whether the alleged breach is admitted:

• (h) whether the alleged breach was an isolated event, or indicates a systemic problem with compliance with the rules:

• (ha) the extent to which the breach was caused by an event or circumstance beyond the reasonable control of the participant allegedly in breach:

• (i) whether the breach allegation is frivolous or vexatious or is not made in good faith:

• (j) whether, considering the length of time that has elapsed, an investigation of the alleged breach is no longer practicable or desirable:

• (k) whether the participant allegedly in breach is, or has been, subject to any other orders under the Act or these regulations:

• (l) the likelihood that the same breach or a similar breach may occur in the future:

• (m) whether the participant allegedly in breach has benefited from the breach:

• (n) whether the complexity of the facts warrant investigation:

• (o) any other factors that the market administrator considers relevant.

(2) The market administrator may publish guidelines to illustrate how it is weighting and applying these factors.

(1) The market administrator must make its determination under regulation 18 expeditiously and in a fair and reasonable manner.

(2) If regulation 18(2)(a) applies, the market administrator must notify the following parties of its determination as soon as practicable:

• (a) the notifying participant or other person that gave the breach notice; and

• (b) the participant allegedly in breach; and

• (c) any other participant that has joined as a party to the breach notice under regulation 13.

(1) If regulation 18(2)(b) applies, the market administrator must endeavour to resolve the alleged breach with the agreement of the following parties:

• (a) the notifying participant or other person that gave the breach notice; and

• (b) the participant allegedly in breach; and

• (c) any other participant that has joined as a party to the breach notice under regulation 13.

(2) In effecting an agreement, the market administrator may use any process that the market administrator thinks fit.

(3) Every resolution under regulation 18(2)(b) must—

• (a) be in writing; and

• (b) specify the details of any breach of the rules that is admitted by a participant; and

• (c) record the terms of the resolution.

(4) The persons referred to in subclause (1) must notify their acceptance of the terms of the resolution in writing to the market administrator.

The market administrator must notify the industry body in a monthly report to the industry body and, subject to regulation 15, publish all of its determinations under regulation 18, including the outcome of any resolutions achieved under regulation 21.

(1) This regulation applies if the market administrator determines, under regulation 18(3) or (4), that an alleged breach must be referred to an investigator for investigation.

(2) The market administrator must—

• (a) refer the alleged breach to an investigator; and

• (b) notify the following parties that the alleged breach has been referred to an investigator:

  • (i) the notifying participant or other person that gave the breach notice; and

  • (ii) the participant allegedly in breach; and

  • (iii) any other participant that has joined as a party to the breach notice under regulation 13; and

• (c) provide the investigator with all relevant materials provided to, or created by, the market administrator concerning the alleged breach.

(3) The notification referred to in subclause (2)(b) must include the identity and contact details of the investigator.

(1) This regulation applies if—

• (a) the market administrator has determined not to take any action on the alleged breach; or

• (b) the attempt by the market administrator to resolve the alleged breach with the agreement of the parties in accordance with regulation 21 has been unsuccessful within 35 business days after the alleged breach was notified under regulation 13.

(2) The following parties may require the market administrator to refer the alleged breach to the investigator:

• (a) the notifying participant or other person that gave the breach notice; or

• (b) the participant allegedly in breach; or

• (c) any other participant that has joined as a party to the breach notice under regulation 13.

(3) If the market administrator is required to refer the alleged breach to an investigator under subclause (2), regulation 23(2) applies to the market administrator.

(1) The industry body must appoint 1 or more persons as investigators who have the requisite skills and experience to carry out independent investigations of alleged breaches.

(2) In selecting an investigator under regulation 23, the market administrator must take reasonable steps to ensure that the investigator selected is free from conflicts of interest in carrying out the investigation.

In carrying out an investigation, the investigator may, subject to the agreement of the market administrator, appoint any external auditor, technical expert, or other persons that the investigator thinks fit to give advice or assistance to the investigator.

(1) The investigator must keep, and must ensure that every person appointed by the investigator under regulation 26 keeps, confidential all information provided or disclosed to him or her, except to the extent that disclosure—

• (a) is required to enable the investigator or other person to carry out his or her obligations under these regulations; or

• (b) is otherwise compelled by a law other than these regulations.

(2) The investigator must require participants that provide or disclose information to the investigator to identify any information that the participant—

• (a) considers to be confidential; and

• (b) considers should not be included in the investigator's report under regulation 38(2).

The investigator must conduct an investigation of the facts surrounding all alleged breaches notified to him or her under regulations 23 and 24.

Every participant must co-operate fully with any investigation carried out by the investigator in accordance with section 43U of the Act.

Privileges are protected in accordance with section 43V of the Act.

The investigative powers of the investigator are limited by section 43W of the Act.

(1) The investigator must endeavour to effect a settlement of every alleged breach under investigation by agreement between—

• (a) the notifying participant or other person that gave the breach notice; and

• (b) the participant allegedly in breach; and

• (c) any other participant that has joined as a party to the breach notice under regulation 13.

(2) In effecting a settlement, the investigator may use any process that the investigator thinks fit, after consultation with the persons referred to in subclause (1).

(1) Every settlement must—

• (a) be in writing; and

• (b) specify the details of any breach of the rules that is admitted by a participant; and

• (c) record the terms of the settlement.

(2) The persons referred to in regulation 32(1) must notify their acceptance of the terms of the settlement in writing to the investigator.

(1) The investigator must provide the Rulings Panel with—

• (a) a copy of the settlement; and

• (b) a report containing as much of the information specified in regulation 38(3) as the investigator reasonably considers relevant in the circumstances of the matter.

(2) The investigator may make a recommendation to the Panel that the Panel should not approve the settlement on the ground that the settlement is not in the best interests of the gas industry or the public.

(3) The Panel must either approve the settlement or reject the settlement.

(4) A settlement that is approved by the Rulings Panel is final and binding on the persons referred to in regulation 32(1), all other participants, and the Rulings Panel, to the extent that no further action can be taken in respect of the alleged breach.

(1) The industry body must publish the terms of every settlement approved by the Rulings Panel under regulation 34.

(2) However, the Panel may direct the industry body not to publish any part, or all, of any particular settlement if the Panel considers that there are special circumstances that justify the non-publication.

If the Rulings Panel rejects a settlement under regulation 34(3), it must—

• (a) direct the investigator to further endeavour to effect a settlement under regulation 32; or

• (b) direct the investigator to abandon the investigation; or

• (c) determine the alleged breach itself under regulations 38 to 49.

(1) If, within the time frame specified in subclause (2), an investigator is unable to effect a settlement of an alleged breach in accordance with regulation 32, the investigator must refer the alleged breach to the Rulings Panel for determination under regulations 38 to 49.

(2) The time frame is—

• (a) within 30 business days (or any longer period that the investigator agrees in writing) of the alleged breach being referred to the investigator under regulation 23 or 24; or

• (b) if applicable, within 10 business days of the investigator further endeavouring to effect a settlement in accordance with a direction given under regulation 36(a).

(1) This regulation applies if the Rulings Panel—

• (a) decides under regulation 36(c) that it will determine an alleged breach itself; or

• (b) must determine an alleged breach under regulation 37(1) because an investigator has been unable to effect a settlement between the parties.

(2) The investigator must provide to the Panel a report and recommendation sufficient to enable the Panel to determine the alleged breach.

(3) The report must, to the extent reasonably practicable, specify or contain the following information:

• (a) the rule allegedly breached; and

• (b) the participant allegedly in breach; and

• (c) the estimated date and time the breach allegedly occurred; and

• (d) the relevant issues raised by the participant allegedly in breach in response to the allegations of breach; and

• (e) the comments made to the investigator by any other person in response to the relevant issues raised by the participant allegedly in breach; and

• (f) any additional information that the investigator considers relevant to the decision of the Panel as to how the matter may be dealt with by the Panel; and

• (g) the investigator's assessment of the impact on the other participants of the conduct alleged to constitute the breach; and

• (h) the investigator's assessment of the likelihood of the alleged breach recurring; and

• (i) details of any similar situations previously dealt with by the Panel, including any settlement approved by the Panel under regulation 34(3) in response to those situations (if known by the investigator); and

• (j) a copy of all correspondence with the investigator or market administrator relating to the alleged breach.

(4) The investigator must use reasonable endeavours to give the report to the Panel within 5 business days of—

• (a) the Panel deciding that it will determine the alleged breach; or

• (b) the investigator referring the alleged breach to the Panel for determination under regulation 37.

(5) The investigator must forward a copy of the report to the following parties as soon as practicable:

• (a) the notifying participant or other person that gave the breach notice; and

• (b) the participant allegedly in breach; and

• (c) any other participant that has joined as a party to the breach notice under regulation 13.

(1) If regulation 38(1) applies, the Rulings Panel must set a date for considering the alleged breach, and must give to the persons referred to in subclause (2) at least 20 business days notice of the place, date, and time at which the Panel will consider the alleged breach.

(2) The following persons are entitled to be heard at any hearing or, if there is to be no hearing, to provide written submissions and evidence:

• (a) the notifying participant or other person that gave the breach notice:

• (b) the participant allegedly in breach:

• (c) any other participant that has joined as a party to the breach notice under regulation 13:

• (d) the investigator who investigated the alleged breach.

(1) The industry body may apply to the High Court for the grant of an interim injunction—

• (a) restraining a participant from doing, or omitting to do, anything that is in breach of the Gas Governance (Critical Contingency Management) Regulations 2008; or

• (b) requiring a participant to do, or omit to do, something in accordance with the Gas Governance (Critical Contingency Management) Regulations 2008.

(2) The court may grant the injunction if, in the opinion of the court, it is desirable to do so.

(3) Subclause (2) applies, in the case of an injunction under subclause (1)(a),—

• (a) whether or not the participant has done, or omitted to do, that thing; and

• (b) whether or not there is an imminent danger of substantial damage to any person if the participant does, or omits to do, that thing.

(4) The court may rescind or vary the injunction on application by the industry body or any participant affected by the injunction.

(1) The Rulings Panel may regulate its own procedures, except as otherwise provided in these regulations, and subject to the requirements of natural justice.

(2) The Panel must provide a summary of its procedures to the industry body and the industry body must publish that summary.

(1) The Rulings Panel must conduct a hearing in respect of a matter that is being considered by the Panel—

• (a) if the Panel considers that it is appropriate for any participant to be given an opportunity to be heard; or

• (b) if any participant requests a hearing in respect of the matter.

(2) Hearings must be in public, unless the Panel directs otherwise.

(3) If there is no hearing, the Panel must consider and decide the matter on the basis of the written submissions and evidence provided in accordance with regulation 39(2).

(1) If there is to be a hearing, the Rulings Panel must ensure that the persons referred to in regulation 39(2) have been provided with—

• (a) a copy of any report provided by the investigator under regulation 38(2); and

• (b) a copy of all relevant material collected or prepared during the course of the investigation of the matter up to the time the copy is provided.

(2) The Panel must comply with subclause (1)—

• (a) not less than 10 business days before the hearing; or

• (b) if the Panel decides that an urgent hearing is desirable, as soon as practicable.

(1) If the Rulings Panel decides that a hearing should be held in private, it must advise the industry body, and the industry body must publish the decision of the Panel and the grounds for that decision.

(2) Any participant that disagrees with the decision may, within 5 business days of the decision being published, make a written submission to the Panel setting out the reasons for its disagreement.

(3) The Panel must consider the submission and then advise the industry body of its decision in respect of that submission.

(4) The industry body must publish any further decision of the Panel and the grounds for that further decision.

If the Rulings Panel considers that the subject matter of a hearing involves a significant area of dispute, or is a matter of urgency, it must arrange for a hearing to take place as soon as practicable.

(1) The Rulings Panel may receive in evidence any statement, document, or information that would not otherwise be admissible as evidence that may, in its opinion, assist it to deal effectively with its consideration of a matter.

(2) This regulation is subject to regulation 30.

(1) Any person that is entitled to be heard under regulation 39(2) at any hearing of the Rulings Panel,—

• (a) is entitled to be represented:

• (b) must be given a reasonable opportunity to make written and oral submissions:

• (c) is entitled to call witnesses and to cross-examine any witness called against it:

• (d) is entitled to make a plea to the Panel in mitigation of penalties:

• (e) is entitled to have any other person present to give evidence.

(2) At any hearing of the Panel, the investigator who has investigated the alleged breach must, if requested to do so by the Panel, speak to his or her report and recommendation provided under regulation 38(2).

(3) Subclause (1) is subject to regulations 41 to 43.

(1) The Rulings Panel may request the investigator to obtain any further information if the Panel considers that, in relation to any matter before it, the Panel does not have sufficient information for it to determine what action to take under regulation 50.

(2) The Panel may make the request of its own initiative or following an application by any person referred to in regulation 39(2).

(3) Participants must provide any information reasonably requested under this regulation.

(4) Subclause (3) is subject to regulation 30.

(1) The industry body may approve as industry experts any external auditor, technical expert, or other person to give advice or assistance to the Rulings Panel as and when required.

(2) The Panel may employ, or otherwise seek advice or assistance from, not more than 2 of the industry experts approved by the industry body under subclause (1) when the Panel is—

• (a) considering whether to approve a settlement under regulation 34(3); or

• (b) determining an alleged breach of the rules under regulation 36(c) or 37(1).

(1) Any person referred to in regulation 39(2) may make written submissions to the Rulings Panel on the subject of any order that the Panel may make, including any penalty.

(2) Any submission under this regulation must be made by the date set by the Panel as the closing date for submissions.

Section 43X(1) of the Act provides for requirements and orders that can be made by the Rulings Panel.

Every participant commits an offence, and is liable on summary conviction to a fine not exceeding $20,000, that breaches a requirement or order made under section Section 43X(1) of the Act.

(1) Section 43X(1)(e) of the Act provides for an order for a civil pecuniary penalty of an amount not exceeding $20,000 in any case where a participant has breached any provision of gas governance regulations or any provision of the rules.

(2) When ordering payment of a civil pecuniary penalty, the Panel must—

• (a) take account of the level of civil pecuniary penalties it has previously ordered in any similar situations; and

• (b) impose a civil pecuniary penalty that is commensurate with the seriousness of the case.

(3) In making that assessment, the Panel must have regard to the following matters:

• (a) the severity of the breach:

• (b) the impact of the breach on other participants:

• (c) the extent to which the breach was inadvertent, negligent, deliberate, or otherwise:

• (d) the circumstances in which the breach occurred:

• (e) any previous breach of the rules by the participant:

• (f) whether the participant disclosed the matter to the market administrator:

• (g) the length of time the breach remained unresolved:

• (h) the participant's actions on learning of the breach:

• (i) any benefit that the participant obtained, or expected to obtain, as a result of the breach:

• (j) any other matters that the Panel thinks relevant.

(1) The Rulings Panel must use reasonable endeavours to make its final decision on each matter under its consideration within 40 business days of the date by which it has received all written and oral submissions on the matter.

(2) The Panel must give the decision, in writing together with the reasons for the decision, to the persons that were entitled to be heard under regulation 39(2).

(3) The Panel must give the decision to the industry body as soon as practicable after the decision is made.

(1) The industry body must publish every decision made by the Rulings Panel under this Part, together with the reasons for the Panel's decision, within 10 business days of receiving the decision from the Panel.

(2) However, the industry body must not publish any part, or all, of any particular decision if the Panel advises the industry body that there are special circumstances that justify the non-publication.

(1) Every participant must comply with every requirement or order relating to it, including any direction or arrangement made by the Rulings Panel for the purpose of giving effect to the requirement or order, that is required or made under section 43X of the Act.

(2) Every participant must perform any action, or make any payment, directed by the Panel within 10 business days of receiving notice of the direction, or any longer period that the Panel allows.

(1) Any sum due to be paid by a participant under these regulations is a debt due by the participant and is recoverable as such in any court of competent jurisdiction.

(2) A failure by a participant to pay a sum due to be paid under these regulations is a breach of these regulations.

(3) A sum that is not paid when due bears interest at the prescribed rate (within the meaning of section 87 of the Judicature Act 1908).

(1) The registry operator is liable for any breach that it commits of rules 16, 18, 19, and 83 of the Gas (Switching Arrangements) Rules 2008.

(2) The registry operator is not liable under these regulations for a sum in excess of—

• (a) $20,000 in respect of any one event or series of closely related events arising from the same cause or circumstance; or

• (b) $100,000 in respect of all events occurring in any financial year.

(1) The allocation agent is liable for any breach that it commits of rules 9 to 13, 43 to 62, and 78, 79, and 84 of the Gas (Downstream Reconciliation) Rules 2008.

(2) The allocation agent is not liable under these regulations for a sum in excess of—

• (a) $50,000 in respect of any one event or series of closely related events arising from the same cause or circumstance; or

• (b) $250,000 in respect of all events occurring in any financial year.

(1) The critical contingency operator is liable for any breach that it commits of regulations 9, 28, 32, 34 to 38, 41, 42, 48 to 53, and 59 to 65 of the Gas Governance (Critical Contingency Management) Regulations 2008.

(2) The critical contingency operator is not liable under these regulations for a sum in excess of the annual fee stipulated in the critical contingency operator service provider agreement in respect of all events occurring in any financial year.

(1) A Rulings Panel is established.

(2) The Panel is a body corporate with perpetual succession.

The functions of the Rulings Panel are to—

• (a) determine, in accordance with these regulations, whether a participant has committed a breach of the rules:

• (b) propose to the industry body that it recommend to the Minister a change to any regulation or rule that the Panel considers, in the course of considering any matter, to be necessary or desirable:

• (c) do anything else referred to in the Act or these regulations.

(1) The Rulings Panel must comprise 1 person, and appointment to the Panel must be made by the Minister.

(2) The member of the Panel must—

• (a) have the characteristics described in regulation 69; and

• (b) be a person who has been nominated by the industry body for appointment as a member of the Panel.

(3) A member of the board of the industry body may not be appointed as the member of the Panel.

(4) The appointment must be made by written notice to the member (with a copy to the industry body).

(5) The notice must—

• (a) state the date on which the appointment takes effect, which must not be earlier than the date on which the notice is received; and

• (b) state the term of the appointment; and

• (c) be published by the Minister in the Gazette as soon as practicable after being given.

(6) The appointment is effective from the later of —

• (a) the date specified in the notice of appointment; or

• (b) the day that the appointee provides the industry body with written consent to the appointment and a written undertaking to be bound by these regulations.

(1) The Minister may appoint a person to act as the alternate of the member of the Rulings Panel in accordance with this regulation.

(2) Regulation 61(2) to (6) applies to the making of an appointment.

(3) The alternate member may act in place of the member of the Panel, but only if the member of the Panel is unable by illness, absence, or other reason to so act.

(4) The alternate member is to be treated as the member of the Panel for the purposes of the performance of any obligation under the Act or these regulations.

(5) Unless the context otherwise requires, a reference to the member of the Panel in these regulations also includes a reference to the alternate member.

(6) No appointment of a person under this regulation as the alternate member, and no acts done by that person or the Panel while that person is the alternate member, may in any proceedings be questioned on the ground that the occasion of the person's appointment had not arisen or had ceased.

The following persons are disqualified from being the member of the Rulings Panel:

• (a) a person who is an undischarged bankrupt:

• (b) a person who is prohibited from being a director or promoter of, or being concerned or taking part in the management of, an incorporated or unincorporated body under the Companies Act 1993, or the Securities Act 1978, or the Securities Markets Act 1988, or the Takeovers Act 1993:

• (c) a person who is subject to an order made under section 10, 11, 12, 30, or 31 of the Protection of Personal and Property Rights Act 1988, or whose property is managed by a trustee corporation under section 32 of that Act:

• (d) a person who has been convicted of an offence punishable by imprisonment for a term of 2 years or more or who has been sentenced to imprisonment for any other offence, unless that person has obtained a pardon or served the sentence or otherwise suffered the penalty imposed on the person:

• (e) a person who may not be appointed as the member of the Panel under regulation 70(1) or who has failed to disclose all interests under regulation 71:

• (f) a person who is not a natural person.

(1) The member of the Rulings Panel—

• (a) holds office for the term specified in his or her notice of appointment, which must be at least 3 years and no more than 5 years; and

• (b) may be reappointed; and

• (c) continues in office despite the expiry of his or her term of office until—

  • (i) that member is reappointed; or

  • (ii) that member's successor is appointed; or

  • (iii) the industry body informs that member by written notice that he or she is not to be nominated for reappointment and no successor is to be nominated for appointment.

(2) This regulation is subject to regulation 67.

(1) The Minister must remove the member of the Rulings Panel—

• (a) in the event of his or her serious misconduct:

• (b) in the event of his or her inability to perform the obligations of the office:

• (c) if he or she becomes a person to whom regulation 63 applies.

(2) The Minister must state his or her reasons in any notice of removal.

(3) The member of the Panel may resign from office by written notice to the industry body signed by him or her.

(4) The resignation is effective on receipt by the industry body of the notice, or at any later time specified in the notice.

(5) The Minister must fill a vacancy created by a removal or resignation as soon as possible in accordance with regulation 61 or 62, as the case may be.

The member of the Rulings Panel is not entitled to any compensation or other payment or benefit relating to his or her removal from office.

The member of the Rulings Panel ceases to hold office if he or she—

• (a) resigns in accordance with regulation 65; or

• (b) is removed from office in accordance with regulation 65 or any other enactment; or

• (c) becomes disqualified from being a member under regulation 63; or

• (d) otherwise ceases to hold office in accordance with any enactment.

The acts of a person as the member of the Rulings Panel are valid even if—

• (a) the person's appointment was defective; or

• (b) the person is not qualified for appointment.

The member of the Rulings Panel—

• (a) must have the requisite knowledge, skills, and experience to carry out the obligations to be performed by the Panel; and

• (b) must act impartially in carrying out those obligations; and

• (c) must not be disqualified from being the member of the Rulings Panel under regulation 63.

(1) No person may be appointed as the member of the Rulings Panel if that person—

• (a) has a material financial interest in a participant; or

• (b) is a director, officer, member, employee, or trustee of a participant; or

• (c) is otherwise directly or indirectly materially interested in a participant.

(2) The member is interested in a matter relating to the Panel if, and only if, the member—

• (a) is a party to, or will or may derive a material financial benefit from, the matter; or

• (b) has a material financial interest in another party to the matter or in a person to whom the matter relates; or

• (c) is a director, officer, member, or trustee of another party to, or a person who will or may derive a material financial benefit from, the matter; or

• (d) is the parent, child, spouse, civil union partner, or de facto partner of another party to, or a person who will or may derive a material financial benefit from, the matter; or

• (e) is otherwise directly or indirectly materially interested in the matter.

(1) If the member of the Rulings Panel is interested in a matter before the Panel, the member must—

• (a) disclose the nature of the interest in accordance with regulation 72 as soon as practicable after he or she becomes aware of the interest; and

• (b) immediately step aside from any deliberations or decisions of the Panel in relation to the matter.

(2) If subclause (1) applies, the alternate member must act in place of the interested member.

(1) If regulation 71 applies, the member must disclose the details listed in subclause (2) in an interests register and to the industry body.

(2) The details are—

• (a) the nature of the interest and the monetary value of the interest (if the monetary value can be quantified); or

• (b) the nature and extent of the interest (if the monetary value cannot be quantified).

The member of the Rulings Panel is entitled to receive, from the funds of the Panel,—

• (a) remuneration and other benefits for services as a member at a rate and of a kind determined by the industry body; and

• (b) reasonable and actual travelling and other expenses relating to the performance of his or her obligations as a member.

The Rulings Panel has all the powers necessary to enable it to perform its obligations.

The Rulings Panel must keep confidential all information provided or disclosed to it under these regulations except to the extent that disclosure—

• (a) is required to enable the Panel to carry out its obligations under these regulations; or

• (b) is necessary for complying with regulations 71 and 72; or

• (c) is otherwise compelled by a law other than these regulations.

(1) The Rulings Panel may prohibit the publication or communication of any information or document—

• (a) that is, or is intended to be, supplied or given or tendered to, or obtained by, the Panel under these regulations; or

• (b) in connection with any notification, investigation, report, or procedure under Part 1, 2, or 3.

(2) The Panel may impose the prohibition only after it has had regard to the following factors:

• (a) whether the information or document is confidential, commercially sensitive, or otherwise unsuited to publication or communication; and

• (b) whether the publication or communication is required to enable the Panel to carry out its obligations under these regulations; and

• (c) whether the publication or communication is compelled by a law other than these regulations; and

• (d) the rules of natural justice.

(3) The Panel may make the prohibition—

• (a) on the application of any participant or on its own initiative; but

• (b) only after—

  • (i) notifying each participant that the Panel considers would be affected by the publication, communication, or prohibition; and

  • (ii) having regard to any views that the participant may make known to the Panel within the time specified by the Panel.

No member or employee of the Panel is personally liable for—

• (a) any liability of the Panel; or

• (b) any act done or omitted to be done by the Panel, any member, or any employee of the Panel, in good faith in pursuance or intended pursuance of the obligations of the Panel.

(1) As early as practicable before the beginning of each financial year, the industry body and the Rulings Panel must agree on a budget for the expenses anticipated by the Panel, and on any performance objectives for the next 12 months.

(2) Each month, the Panel must provide the industry body with a written report on actual costs incurred during the month compared with budgeted costs.

(3) If the Panel anticipates incurring expenditure in excess of any budgeted amount, it must notify the industry body and apply for a variation to the agreed budget.

At the end of each quarter of the financial year, the Rulings Panel must provide the industry body with—

• (a) a report summarising the decisions made by the Panel during that quarter, including details of all awards of costs and compensation; and

• (b) a report summarising the Panel's—

  • (i) current workload; and

  • (ii) ability to meet performance objectives; and

  • (iii) resources; and

• (c) any other matters of concern.

At the end of each financial year, the Rulings Panel must provide the industry body with an annual report—

• (a) summarising the performance of the Panel against budget for the financial year; and

• (b) summarising the decisions of the Panel during the financial year; and

• (c) summarising the performance of the Panel during the financial year against agreed performance objectives; and

• (d) commenting on any area of these regulations or the rules where the Panel considers that a change is necessary or desirable.

(1) The industry body must fund the market administrator, any investigators, and the Rulings Panel.

(2) Each year of operation, the industry body must—

• (a) calculate the compliance costs, which are—

  • (i) the costs payable by the industry body to the market administrator, any investigators, and the Rulings Panel in respect of the year; and

  • (ii) the costs of the industry body associated with the operation of, and its obligations under, these regulations during the year; and

• (b) apportion those compliance costs in respect of the compliance related to each set of rules (these costs are called the compliance costs apportioned to the relevant rules).

(3) The industry body may recover the compliance costs apportioned to the relevant rules from industry participants as follows:

• (a) through compliance ongoing fees under regulations 82 to 84, if the industry participant is liable to pay ongoing fees under the relevant rules; or

• (b) through levies under section 43ZZE of the Act; or

• (c) in any other manner that is available to the industry body.

(4) As soon as practicable after these regulations apply to a set of rules, the industry body must publish on its Internet site how the industry body intends to recover the compliance costs apportioned to the relevant rules.

(5) Nothing in this regulation limits the ability of the Rulings Panel to make orders under section 43X of the Act relating to the reasonable costs of an investigation.

(6) To avoid doubt, regulations 82 to 84 do not apply to costs that are recovered under subclause (3)(b) or (c).

(7) In this regulation and regulations 82 and 83, year means a financial year unless the context otherwise requires.

(1) The estimated compliance ongoing fees are payable to the industry body.

(2) As soon as practicable after the commencement date of these regulations, the industry body must determine and publish on its Internet site a breakdown of the estimated compliance costs apportioned to the relevant rules for the first year or part year of operation of these regulations.

(3) As soon as practicable after publication of those estimated compliance costs, the industry body must notify every person to whom regulation 84(1) applies of the compliance ongoing fees payable by that person in that year or part year calculated in accordance with the following formula:

(4) For each year following the first year or part year of operation, the industry body must—

• (a) estimate and publish on its Internet site, at least 2 months prior to the beginning of that year, a breakdown of the estimated compliance costs apportioned to the relevant rules for that year; and

• (b) as soon as practicable after publication of those estimated compliance costs, notify every person to whom regulation 84(1) applies of the compliance ongoing fees payable by that person in that year calculated in accordance with the formula in subclause (3).

(5) On the first business day of each month, the industry body or the market administrator must invoice every person to whom regulation 84(1) applies for that person’s share of the compliance ongoing fees payable during that month calculated in accordance with the formula in subclause (3).

(1) The actual compliance ongoing fees are payable to the industry body.

(2) As soon as practicable after the end of each year of operation, the industry body must determine and publish on its Internet site a breakdown of the actual compliance costs apportioned to the relevant rules for that year.

(3) Not less than 10 business days after publication of those actual compliance costs, the industry body or the market administrator must invoice, or issue a credit note to, every person to whom regulation 84(1) applies for the difference between—

• (a) that person’s share of the actual compliance costs calculated in accordance with the formula in regulation 82(3), with the necessary modifications; and

• (b) the amount of the estimated compliance costs paid by that person in respect of the year.

(1) Every person who is liable to pay ongoing fees under a set of rules for a month is also liable to pay compliance ongoing fees for that month in accordance with these regulations.

(2) The due date for the payment of any invoice or credit note is the tenth business day after the date on the invoice or credit note.

(3) The fees payable under regulations 82 and 83 are exclusive of any goods and services tax payable under the Goods and Services Tax Act 1985, and goods and services tax on those fees (if any) will be added to the invoices or credit notes issued under regulations 82(5) and 83(3).