Certain contracts not required to be offered, &c., if requirements as to risk not met
43J Certain contracts not required to be offered, &c., if requirements as to risk not met
The Hydro-Electric Corporation may submit to the Regulator an instrument setting out the requirements, relating to the risk to the Corporation of financial loss arising from an authorised retailer failing to meet its obligations under a contract that may be entered into in accordance with section 43I, that are to be satisfied by an authorised retailer in order for section 43I to apply in relation to the authorised retailer.
The Regulator, by notice to the Hydro-Electric Corporation, may approve, or refuse to approve, the requirements set out in an instrument submitted to the Regulator under subsection (1).
It is a defence to a charge of an offence against section 43I of failing to offer to an authorised retailer an approved financial risk contract, or failing to enter into an approved financial risk contract with an authorised retailer, if the Hydro-Electric Corporation establishes that the authorised retailer did not, at the time of the failure, satisfy the requirements set out in an instrument approved under subsection (2).
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