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COMPETITION AND CONSUMER ACT 2010 - SECT 53R

Negotiations, expressions of interest and offers

Negotiations

  (1)   A gas market code may include rules about negotiations relating to supplying or acquiring a gas commodity.

Expressions of interest

  (2)   A gas market code may include rules about expressions of interest relating to supplying or acquiring a gas commodity, including:

  (a)   rules requiring a gas market participant to issue, or not to issue, an expression of interest in specified circumstances; or

  (b)   rules about any of the following matters:

  (i)   matters to which regard is had before issuing an expression of interest;

  (ii)   the manner in which an expression of interest is issued (for example, in writing);

  (iii)   information that is included in an expression of interest or made available in connection with an expression of interest (including the manner in which the information is made available);

  (iv)   the content of an expression of interest;

  (v)   the period during which an expression of interest is open;

  (vi)   responding to an expression of interest;

  (vii)   dealing with a response to an expression of interest, including by providing information, making an offer or entering into an agreement;

  (viii)   withdrawing an expression of interest.

Offers

  (3)   A gas market code may include rules about offers relating to supplying or acquiring a gas commodity, including:

  (a)   rules requiring a gas market participant to make, or not to make, an offer in specified circumstances; or

  (b)   rules about any of the following matters:

  (i)   matters to which regard is had before making an offer;

  (ii)   the manner in which an offer is made (for example, in writing);

  (iii)   information that is included in an offer, or made available in connection with an offer (including the manner in which the information is made available);

  (iv)   the content of an offer;

  (v)   the period during which an offer is open;

  (vi)   responding to an offer;

  (vii)   dealing with a response to an offer, including by providing information;

  (viii)   withdrawing an offer.



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