Water Industry Competition Act 2006 No 104
85 Licence auditing functions
(1) IPART’s functions under this Division are to monitor, and to report to the Minister on, the extent to which licensed network operators and licensed retail suppliers comply, or fail to comply, with the conditions imposed on the licences held by them.
(2) In particular, IPART is to review each licence at intervals of not more than 5 years, and at such other times as the Minister may direct, with the first 5-year review commencing on the fifth anniversary of the granting of the licence.
(3) A report with respect to such a review may include recommendations as to the variation or revocation of existing licence conditions or the imposition of new licence conditions.