Independent Competition and Regulatory Commission Act 1997

A price direction has effect despite any application for its review, unless the industry panel, on an application by a party, declares in writing that the implementation of the price direction is suspended or altered until—

if the panel substitutes a new direction for the price direction under review—the day (or days) the substituted direction comes into effect; or

if the panel confirms the price direction under review—the day the report of the review is presented to the Legislative Assembly (under section 24U (Functions of commission)); or

if the panel sets aside the price direction under review and remits the matter back to the commission to make a new price direction—the day the new price direction comes into effect.

The declaration of suspension or alteration is taken to be a variation of the price direction while the direction remains in force.

The following sections apply to the declaration of suspension or alteration as if it were the final report of a price regulation investigation:

• section 21 (Final reports)

• section 23 (Confidential material in reports)

• section 24 (Presenting of reports to Legislative Assembly)

• section 24B (Correction of errors in reports).