Commonwealth Consolidated Acts

COMPETITION AND CONSUMER ACT 2010 - SECT 58ED

  (1)   The Minister may, by legislative instrument, designate an entity that:

  (a)   is a Commonwealth entity (within the meaning of the Public Governance, Performance and Accountability Act 2013 ); and

  (b)   is already conferred functions by or under a law;

to be the SPF sector regulator for a regulated sector.

  (2)   The Commission is the SPF sector regulator for a regulated sector if (and while) no instrument under subsection   (1) is in force for the sector.

Note:   The Commission could also be designated under subsection   (1) to be the SPF sector regulator for a regulated sector.

  (3)   The functions and powers of the SPF sector regulator for a regulated sector include those conferred:

  (a)   by the SPF code for the sector; or

  (b)   by any other SPF provisions; or

  (c)   if the SPF sector regulator is the Commission--the Commission's functions and powers under section   155 to the extent that section   155 relates to:

  (i)   the provisions of the SPF code for the sector; or

  (ii)   a designated scams prevention framework matter (within the meaning of that section) involving the performance of a function, or the exercise of a power, conferred by or under the SPF code for the sector.

Note:   The functions and powers of SPF regulators other than the Commission include the monitoring and investigating functions and powers referred to in Division   6 (see paragraph   (b) of this subsection).

  (4)   The Minister may, in writing, delegate the Minister's power under subsection   (1) to another Minister.

Note:   Sections   34AA to 34A of the Acts Interpretation Act 1901 contain provisions relating to delegations.