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COMPETITION AND CONSUMER ACT 2010 - SECT 53S

Agreements

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

  (a)   rules requiring a gas market participant to enter, or not to enter, into an agreement in specified circumstances; or

  (b)   rules about any of the following matters:

  (i)   the manner in which an agreement is made (for example, in writing);

  (ii)   matters dealt with in an agreement, including, in the case of an agreement to supply or acquire a gas commodity, the matters mentioned in subsection   (2);

  (iii)   withdrawing from or ending an agreement.

Example:   Rules requiring specified matters to be dealt with, or not dealt with, in an agreement.

  (2)   For the purposes of subparagraph   (1)(b)(ii), the matters are the following:

  (a)   how much of the gas commodity is to be supplied or acquired;

  (b)   flexibility of the volume of the gas commodity to be supplied or acquired;

  (c)   where the gas commodity is to be supplied or acquired;

  (d)   when the gas commodity is to be supplied or acquired;

  (e)   payment terms;

  (f)   a communication protocol for major interruptions to the supply of the gas commodity;

  (g)   the period of the agreement;

  (h)   the consequences of a breach of the agreement;

  (i)   dispute resolution.



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