Commission may require controlled contract to be terminated
29C Commission may require controlled contract to be terminated
The Commission may serve on each party to a controlled contract a notice in writing giving the party an opportunity to show cause in writing within a period of 14 days after the date of that service why the contract should not be terminated on the ground that it is not in the public interest for the contract to remain in force.
The notice shall specify the reasons why the Commission considers that it is not in the public interest for the contract to remain in force.
A person served with a notice under subsection (1) may, within the period referred to in that subsection, serve on the Commission submissions in writing showing cause why the contract should not be terminated.
After receiving and considering any submissions served under subsection (3) within the period referred to in subsection (1) or, if no submission is so served, within a period of 21 days after having served the later or last of the relevant notices, as the case requires, under subsection (1), the Commission may serve notice in writing on each party to the contract requiring the contract to be terminated within a period specified in the notice.
If the contract is not terminated within the period specified in the notice, it is terminated at the expiry of that period by force of this subsection.
[Section 29C inserted: No. 24 of 1998 s. 27.]
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