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Competition and Consumer Act 2010 - Monitoring of Prices, Costs and Profits Relating to the Supply of Regulated Goods by Corporations and the Supply of Goods by Liable Entities in Relation to the Carbon Tax Scheme in Australia

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Commonwealth of Australia
Competition and consumer act 2010
MONITORING OF PRICES, COSTS AND PROFITS RELATING TO THE SUPPLY OF regulated goods by corporations and the supply of goods by liable entities in relation to the carbon tax scheme in australia
I, Joe Hockey, Treasurer, pursuant to section 95ZE of the Competition and Consumer Act 2010, hereby give the following Direction:
1.             The Australian Competition and Consumer Commission (ACCC) is to undertake formal monitoring of the prices, costs and profits relating to the supply of regulated goods by corporations and the supply of goods by liable entities to assess the general effect of the carbon tax scheme in Australia.
2.             In this Direction, regulated goods means goods supplied in the following industries:
(a)          natural gas;
(b)          electricity;
(c)          synthetic greenhouse gas.
3.             In this Direction, liable entities means a corporation for which there is an entry in the Information Database (within the meaning of the Clean Energy Act 2011).
4.             In this Direction, carbon tax scheme has the same meaning it has in item 3 of Schedule 2 to the Clean Energy Legislation (Carbon Tax Repeal) Bill 2013.
5.             The ACCC is to report to me on its monitoring activities in paragraph (1) within 28 days of the end of each quarter of each financial year.
6.             This Direction takes effect for the period 1 March 2014 to 30 June 2015.
Dated this 18th day of February 2014