Water and Sewerage Industry (Community Service Obligation) Amendment Regulations 2011

Water and Sewerage Industry (Community Service Obligation) Amendment Regulations 2011

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Water and Sewerage Industry (Community Service Obligation) Act 2009 .

20 June 2011

PETER G. UNDERWOOD

Governor

By His Excellency's Command,

LARA GIDDINGS

Treasurer

1.   Short title

These regulations may be cited as the Water and Sewerage Industry (Community Service Obligation) Amendment Regulations 2011 .

2.   Commencement

These regulations take effect on the day on which their making is notified in the Gazette.

3.   Principal Regulations

In these regulations, the Water and Sewerage Industry (Community Service Obligation) Regulations 2009 are referred to as the Principal Regulations.

4.    Regulation 6 amended (Prescribed annual increase of base rate)

Regulation 6 of the Principal Regulations is amended as follows:

(a) by omitting from subregulation (1)(b) "5%" and substituting "10%";

(b) by omitting paragraph (c) from subregulation (1) and substituting the following paragraph:

(c) the base amount for regulated entities for a financial year (in this regulation referred to as "the subsequent year") after the 2011-2012 financial year is to be increased by the percentage obtained by calculating, for the subsequent year, {(B/C) – 1} x 100, unless the amount obtained by dividing B by C for the subsequent year results in a number less than 1.

(c) by omitting subregulation (2) and substituting the following subregulation:

(2)  For the purposes of subregulation (1)(c)  –

B, in relation to a subsequent year, means the average Hobart Consumer Price Index Number for the 4 quarters ending on the 31 December before the subsequent year begins;

C, in relation to a subsequent year, means the average Hobart Consumer Price Index Number for the 4 quarters ending immediately before the 4 quarters referred to in the definition of "B".

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 29 June 2011

These regulations are administered the Department of Treasury and Finance.

EXPLANATORY NOTE

(This note is not part of the regulation)

These regulations alter the base amount for regulated entities for the 2011-2012 financial year and subsequent financial years.