Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A gas market code may include rules about agreements relating to supplying or acquiring a gas commodity, including:
(a) rules requiring a gas market participant to enter, or not to enter, into an agreement in specified circumstances; or
(b) rules about any of the following matters:
(i) the manner in which an agreement is made (for example, in writing);
(ii) matters dealt with in an agreement, including, in the case of an agreement to supply or acquire a gas commodity, the matters mentioned in subsection (2);
(iii) withdrawing from or ending an agreement.
Example: Rules requiring specified matters to be dealt with, or not dealt with, in an agreement.
(2) For the purposes of subparagraph (1)(b)(ii), the matters are the following:
(a) how much of the gas commodity is to be supplied or acquired;
(b) flexibility of the volume of the gas commodity to be supplied or acquired;
(c) where the gas commodity is to be supplied or acquired;
(d) when the gas commodity is to be supplied or acquired;
(e) payment terms;
(f) a communication protocol for major interruptions to the supply of the gas commodity;
(g) the period of the agreement;
(h) the consequences of a breach of the agreement;
(i) dispute resolution.