The Economic Regulation of Transport Act, 2024 (Act No. 6 of 2024)Chapter 3 : Economic Regulation of Transport Facilities and ServicesPart A : Price Regulation12. Extraordinary review of price controls |
| (1) | At any time after a price control takes effect, the Regulator may conduct an extraordinary review if the Regulator is satisfied that unforeseeable changes in economic demand, input costs, technology, the regulatory environment or other similar factors have affected the regulated entity sufficiently to constitute a threat to its economic sustainability during the current price control period and thus justify an early review of the price control. |
| (2) | The Regulator may conduct an extraordinary review in terms of subsection (1) either— |
| (a) | on its own initiative; or |
| (b) | on application, in the prescribed manner, by— |
| (i) | the relevant regulated entity; |
| (ii) | the Minister; or |
| (iii) | another person directly affected by that price control. |
| (3) | Section 11 applies to an extraordinary review in terms of this section. |