55   Preparation of contingency plans

(1)  As soon as practicable after a person becomes a retailer of last resort, the person must, in accordance with the regulations, submit for the Minister’s approval a contingency plan setting out the arrangements that are in place to ensure that it can meet its obligations as a retailer of last resort.

(2)  The Minister may approve a contingency plan as submitted, or may require the retailer of last resort to amend it and resubmit it for approval.

(3)  A contingency plan may only be varied with the consent of the Minister.

(4)  In the case of a retailer of last resort that is a licensed retail supplier:

(a)  submission of a contingency plan in accordance with subsection (1), and

(b)  maintenance of the arrangements set out in its contingency plan,

      are conditions of the retail supplier’s licence.