Library / PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS
PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS
Page 63 of 127
63
(i) reporting obligations
(k) Open access obligations or equal participation rights;
(l) cost-sharing restrictions;
(m) Performance or investment commitments;
63. Issuance of Directions to Prevent or Mitigate Unlawful Exercise of Market
Power
(1) Concurrently with or subsequent to granting an approval under Regulation
118 of these Regulations, the Authority may issue directions to the applicant to
prevent or mitigate any conduct that is likely to lead to an unlawful exercise of
market power detrimental to customers.
(2) Such directions shall be specific, measurable, achievable, relevant, and
time-bound.
(3) The Authority shall monitor compliance with such directions and may
require periodic reports or audits from the approved parties.
64. Withdrawal of Approval
(1) Grounds for Withdrawal of Approval
The Authority may withdraw an approval granted under this Regulation or
Section 211(2) of the Act if:
(a) The approval was granted based on materially false or misleading
information provided by the applicant.
(b) The licensee or person has breached any term or condition of the approval.
(c) There has been a material change in circumstances since the approval
was granted, such that the original justification for the approval no longer exists
or the conduct is having a significantly greater anti-competitive effect than
anticipated.
(d) The conduct under approval is found to be contrary to the public interest
or detrimental to the functional and effective competitive market in ways not
foreseen at the time of approval.
(e) The licensee or person fails to comply with directions issued under
Regulation 63 of these Regulations.
65. Procedure for Withdrawal of Approval
(1) Before withdrawing an approval, the Authority shall issue a written notice to
the affected licensee or person, stating:
(a) Its intention to withdraw the approval.
(b) The grounds for the proposed withdrawal.
(c) The facts and evidence supporting the grounds.
(2) The licensee or person shall be given a reasonable opportunity within 30
working day] to make written and/or oral representations as to why the
approval should not be withdrawn.
(3) After considering any representations, the Authority shall make a final
decision and notify the licensee or person in writing, providing reasons.
Pricing & TariffsPDF63