Independent Competition and Regulatory Commission Act 1997

On a written submission by a referring authority (other than the commission itself) setting out proposed terms of reference for an investigation into a government-regulated activity, the commission may accept the reference in those terms (or in other terms agreed between the commission and the referring authority).

The commission may accept the reference only if—

it considers that the proposed investigation would be in the public interest; and

if the reference is from a self-funding referring authority—the referring authority has the capacity to bear the cost of the investigation.

If the commission accepts the reference, it must prepare a written notice of acceptance that sets out the terms of reference for the investigation.

The commission must give a copy of the notice to the referring authority.

The notice is a notifiable instrument.

The commission may also publish information about the reference in any other appropriate way.