Document ID: chunk:federal_register_of_legislation:F2023L00994:reg:21
Version: federal_register_of_legislation:F2023L00994
Segment Type: reg
Provision Reference: reg 21
Character Range: 39448–40899

21  Gas final offer must not be withdrawn or terminated before end of gas final offer open period
 (1) A person (the supplier) contravenes this subsection if:
 (a) the supplier is a covered supplier; and
 (b) the supplier issues a gas final offer to another person (the potential buyer) (whether or not in relation to a gas EOI or gas initial offer); and
 (c) the supplier withdraws or terminates the gas final offer before the end of the gas final offer open period.
Civil penalty:
 (a) for a body corporate—6,000 penalty units; and
 (b) for a person other than a body corporate—1,200 penalty units.
 (2) Subsection (1) does not apply if:
 (a) there has been a material change in the supplier's circumstances resulting in the inability of the supplier to supply regulated gas in accordance with the gas final offer; or
 (b) all of the following apply:
 (i) there has been a material change in the supplier's financial circumstances or business structure;
 (ii) the change will affect the ability of the supplier to supply regulated gas in accordance with the gas final offer; or
 (c) a circumstance specified in a determination under subsection 23(1) exists; or
 (d) the supplier and the potential buyer agreed to the withdrawal or termination; or
 (e) the potential buyer gave the supplier written notice, before the end of the gas final offer open period, that the potential buyer withdraws from the negotiation process.

Division 4—Miscellaneous