Safety Management system reporting requirements under review – NSW

Consumer, Uncategorized
Photo by Adam Birkett on Unsplash By Anne Wardell, Compliance Quarter.  The Electricity Supply (Safety and Network Management) Regulation 2014 requires all NSW electricity network operators to have a safety management system in place, measure the system's performance and publish an annual report in relation to the results. The Independent Pricing and Regulatory Tribunal, New South Wales (IPART) publish electricity networks reporting manuals. The current manuals have been in place since October 2016. IPART has decided to undertake a review of the reporting requirements for safety management system performance measures which will incorporate a comprehensive review and rethink of current performance measures to: maximise the usefulness of the information collected by networks and reported to IPART and the public, and ensure minimal regulatory costs to the network operators. IPART intends to consult with network operators and seek public…
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Understanding GDPR: Opportunities and Risks

Understanding GDPR: Opportunities and Risks

Consumer, Uncategorized
In this post on understanding GDPR, we'll look at the following: Data Disruption Regulation in the age of Data The GDPR Opportunity? What are the Next Steps? The post forms the commentary by our regulatory specialists on a recent webinar on understanding GDPR conducted for our clients and interested parties. Below is the video content of the webinar: Introducing Anne Wardell - Compliance Quarter Regulatory Specialist Anne is a former of the Victorian Bar with over thirty years' experience as a lawyer. She was also the National Director of Insolvency at the ATO and a Deputy Registrar of the Federal Court of Australia. She was an insolvency specialist acting for liquidators, banks and the Official Receiver, before moving into compliance and regulations. She has advised energy retailers in relation to…
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A new Consumer Data Right for 2018: What we Know So Far

A new Consumer Data Right for 2018: What we Know So Far

Consumer, Uncategorized
On 26 November the Federal Government announced its intention to legislate a national Consumer Data Right next year, following the recommendations of the Productivity Commission (which you can view here). In today’s article we look at what we currently know about this proposed data right and suggest how it relates to existing data rights and other changes proposed by the Government. [caption id="attachment_2680" align="aligncenter" width="640"] Photo by Pana Vasquez on Unsplash[/caption] By Dr Drew Donnelly, Compliance Quarter. What we know so far The Government will announce its formal response to the Productivity Commission’s Inquiry Report Data Availability and Use (PC Report) in a few weeks time, so this announcement is a ‘sneak peek’, with more detail to be released shortly. Nevertheless, there are a few things that we know from…
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Unfair contract terms

Unfair contract terms

Consumer, Uncategorized
By Anne Wardell, Compliance Quarter UPDATE: In the JJ Richards matter the Federal Court has declared by consent that eight of the terms in the contract were unfair contract terms. The unfair terms are set out below. See ACCC MR 176/17 The Australian Competition and Consumer Commission (ACCC) has recently instituted two proceedings in relation to unfair contract terms. These are the first proceedings instituted by the ACCC under the new laws that protect small businesses from unfair contract terms. JJ Richards JJ Richards & Sons Pty Ltd is one of the largest waste management companies in Australia. The unfair terms: binding customers to subsequent contracts unless they cancel the contract within 30 days before the end of the term; allowing JJ Richards to unilaterally increase its prices; removing any liability for…
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Understanding smart contracts

Understanding smart contracts

Consumer, Uncategorized
    By Dr Drew Donnelly, Compliance Quarter. Continuing in our series of posts on blockchain and related financial technology, today we look at how blockchain might facilitate a new legal instrument; smart contracts. We define smart contracts, provide an explanatory example and look at some of the inherent limitations of the instrument. A smart contract is… To understand smart contracts, it is useful to think about blockchain again and how it facilitates the transfer of digital currency (sometimes called ‘cryptocurrency’). Blockchain is a distributed ledger or network with an inbuilt process for validating transactions and permanently recording them. Through its inbuilt verification process, the blockchain can validate the transfer of a currency such as bitcoin or ethereum from one person to another. Consider, however, that the transfer of money…
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