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Legislative Assembly for the ACT: 1997 Week 10 Hansard (25 September) . . Page.. 3419 ..

Mr Speaker, today I am pleased to introduce the Independent Pricing and Regulatory Commission Bill 1997. This Bill is a significant step towards meeting the Territory's commitments to micro-economic reform.

The Commission is being established at a crucial point in the Government's reform program for Government owned businesses. The legislation also brings the ACT in line with practice in other jurisdictions.

The Commission's core functions will be to promote effective competition in the interests of consumers, to facilitate efficiency and to ensure non-discriminatory access to monopoly and near-monopoly infrastructure.

Key elements of the Bill include the conduct of inquiries, making of reports, determinations and pricing directions as part of the inquiry process.

The Commission, will be accountable to the Minister but independent in relation to pricing directions and access determinations.

The small size and limited resources of the ACT mean that it is economically efficient to place pricing oversight, access and other regulatory functions within a single Commission.

The Commission will have the power to conduct inquiries into any matter referred to it by the Minister, and report to the Minister on any issue that the Commission considers relevant arising from the inquiry.

The Commission will have the power to undertake functions conferred on it by other legislation.

The Commissioner will have a fixed term appointment, but will work on a needs only basis.

The cost of the Commission's operation will be recovered from the industries which it regulates.

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