Water and Sewerage Industry (Community Service Obligation) Amendment Regulations 2012

Water and Sewerage Industry (Community Service Obligation) Amendment Regulations 2012

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 .

18 June 2012

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 2012 .

2.   Commencement

These regulations take effect on 1 July 2012.

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 inserting the following paragraphs after paragraph (b) in subregulation (1) :

(ba) the base amount for regulated entities for the 2012-2013 financial year is to be increased by 6%, rounded to the nearest cent under subregulation (3) and then rounded to the nearest dollar under subregulation (3A) ; and

(bb) the base amount for regulated entities for the 2013-2014 financial year is to be increased by 6%, rounded to the nearest cent under subregulation (3) and then rounded to the nearest dollar under subregulation (3A) ; and

(bc) the base amount for regulated entities for the 2014-2015 financial year is to be increased by 6%, rounded to the nearest cent under subregulation (3) and then rounded to the nearest dollar under subregulation (3A) ; and

(b) by omitting from subregulation (1)(c) "2011-2012 financial year" and substituting "2014-2015 financial year";

(c) by inserting in subregulation (1)(c) ", rounded to the nearest cent under subregulation (3) and then rounded to the nearest dollar under subregulation (3A) " after "1";

(d) by omitting subregulation (3) and substituting the following subregulations:

(3)  An amount that is a fraction of a cent is rounded to the nearest cent by –

(a) if the number is 0.5 of a cent or more, increasing that amount to the next whole cent; or

(b) if the number is less than 0.5 of a cent, decreasing that amount to the next whole cent.

(3A)  An amount which is dollars and a number of cents is rounded to the nearest dollar by –

(a) if the number of cents is 50 or more, increasing that amount to the next whole dollar; or

(b) if the number of cents is less than 50, decreasing that amount to the next whole dollar.

5.   Legislation rescinded

The legislation specified in Schedule 1 is rescinded.

6.   Rescission of regulations

These regulations are rescinded on the one hundred and eightieth day from the day on which these regulations commence.

SCHEDULE 1 - Legislation rescinded

Regulation 5

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

Notified in the Gazette on 27 June 2012

These regulations are administered in the Department of Treasury and Finance.

EXPLANATORY NOTE

(This note is not part of the regulation)

These regulations amend the Water and Sewerage Industry (Community Service Obligation) Regulations 2009 by prescribing the percentage amount by which the base amount, for the calculation of a concession under the Water and Sewerage Industry (Community Service Obligation) Act 2009 , is to be increased for certain financial years.