Electricity Industry Participation Code 2010

• This Schedule sets out provisions that apply to each distributor described in a row in column 1 below, and each participant described in column 2 of the row:

• (1) A person that wishes to be a participant that trades on, is connected to, or uses a distributor's network or equipment connected to a distributor's network must have a distributor agreement with the distributor.
• (2) The person must ensure that the distributor agreement comes into force on or before the day on which the person commences trading on or using, or is connected to or using equipment connected to, the distributor's network.

• (1) A person described in clause 2(1) must give notice to the distributor that it wishes to trade on, be connected to, or use the distributor's network or equipment connected to the distributor's network as a participant at least 20 business days before the person proposes to do so.
• (2) The person may withdraw the notice at any time before it enters into, or is deemed to have entered into, a binding contract with the distributor under clause 6, by giving notice of the withdrawal of the notice to the distributor.

• Clauses 5 to 9 apply if a distributor receives a notice from a person under clause 3(1) after the distributor has made the relevant default distributor agreement available on its website under clause 6(1) of Schedule 12A.4.

• The distributor must offer to contract with the person that gives notice under clause 3(1) on the terms set out in the default distributor agreement no later than 5 business days after receiving the notice.

• (1) At any time before the relevant default distributor agreement applies as a binding contract between the distributor and the person who gave notice under clause 3(1), either the distributor or the person may give the other party notice that it wishes to contract with the other party on the terms set out in the default distributor agreement.
• (2) If either party gives a notice under subclause (1), the default distributor agreement applies as a binding contract between the parties with effect from—
  • (a) the later of—
    • (i) the 5^th business day after the date on which the notice is given; or
    • (ii) the day on which the person becomes a participant;
  • (b) any other date agreed by the parties.
• (3) If, at the expiry of 20 business days after a notice is received by a distributor under clause 3(1), or any other date agreed by the parties, the parties have not agreed on the terms of a distributor agreement and neither party has given a notice under subclause (1), the default distributor agreement applies as a binding contract (being a distributor agreement) between the parties with effect from—
  • (a) the later of—
    • (i) the expiry of the 20 business day period; or
    • (ii) the day on which the person becomes a participant; or
  • (b) any other date agreed by the parties.
• (4) At any time before the relevant default distributor agreement applies as a binding contract between the parties, the person who gave notice under clause 3(1) may give the distributor notice that it does not agree to the inclusion of one or more collateral terms in the default distributor agreement published in accordance with clause 6(1) or 12(1) of Schedule 12A.4.
• (5) For the purposes of this clause, a distributor agreement that applies as a binding contract between the parties includes—
  • (a) all core terms and operational terms included in the default distributor agreement published in accordance with clause 6(1) or 12(1) of Schedule 12A.4; and
  • (b) [Revoked]
  • (c) subject to subclause (6), all collateral terms included in the default distributor agreement published in accordance with clause 6(1) or 12(1) of Schedule 12A.4; and
  • (d) any terms relating to additional services that either party requires be entered into in accordance with clause 7 (including any alternative terms agreed in accordance with clauses 7(4) and 9).
• (6) A distributor agreement that applies as a binding contract under subclause (5) does not include any collateral term to which a notice given under subclause (4) applies.

• (1) This clause applies if a distributor receives a notice from a person under clause 3(1) that the person wishes to trade on, be connected to, or use the distributor's network or equipment connected to the distributor's network as a participant
• (2) A participant described in a row in column 1 below may, by notice to the other party to a distributor agreement or proposed distributor agreement, require that an agreement on the terms set out in the appendix described in column 2 of the row be entered into between the parties:

• (3) Subject to subclause (4), if a party gives notice under subclause (2), the terms in the appendix that is the subject of the notice apply as a binding contract between the parties with effect from—
  • (a) the 5^th business day after the date on which the notice is given; or
  • (b) any other date agreed by the parties
• (4) A distributor and a participant may agree to alternative terms relating to additional services in accordance with clause 9.
• (5) To avoid doubt, a participant may give notice under subclause (2) at any time after—
  • (a) the commencement of the distributor agreement; or
  • (b) the commencement of any agreement to alternative terms relating to additional services in accordance with clause 9; or
  • (c) any amendment to the relevant appendix described in subclause (2) comes into force.
• (6) Any existing agreement that applies in accordance with subclause (3) or (4) is terminated from the date any subsequent agreement addressing the same subject matter applies as a binding contract in accordance with subclause (3) or clause 9.

• (1) A distributor and a participant may enter into an agreement on terms that differ from the terms set out in the relevant default distributor agreement (an "alternative agreement").
• (2) A distributor agreement that differs from the relevant default distributor agreement only because one or more collateral terms in the default distributor agreement has been omitted is not an alternative agreement for the purposes of this Part.
• (3) If a distributor and a participant enter into an alternative agreement under this clause, the distributor and participant must ensure that the alternative agreement does not include any term that is inconsistent with, or modifies the effect of, any term that applies under clause 7(3).
• (4) To avoid doubt,—
  • (a) an alternative agreement is a distributor agreement for the purposes of this Code; and
  • (b) parties to an existing distributor agreement based on the default distributor agreement may agree to enter into an alternative agreement to replace the existing distributor agreement.

• (1) A distributor and a participant may agree to terms that address the subject-matter of an appendix described in clause 7(2) (“alternative terms for an additional service”).
• (2) If a distributor and a participant agree to alternative terms for an additional service, the distributor and participant must ensure that none of those terms are inconsistent with, or modify the effect of—
  • (a) core terms in the relevant default distributor agreement and default distributor agreement template; or
  • (b) operational terms in the relevant default distributor agreement.
• (3) The alternative terms for an additional service apply from the date agreed between the parties.

• Nothing in this Part prevents a distributor and a participant from entering into any other agreement or arrangement, provided that the terms of the other agreement or arrangement—
  • (a) do not address the subject-matter of the terms of a default distributor agreement; and
  • (b) do not relate to the service or services described in a default distributor agreement; and
  • (c) are not inconsistent with, and do not modify the effect of, any default distributor agreement or alternative agreement.

• (1) If requested by the Authority, a party to a distributor agreement must give the Authority a copy of—
  • (a) the distributor agreement; and
  • (b) any variation to the distributor agreement; and
  • (c) any other agreement entered into between the parties to the distributor agreement during the period from the date notice was given under clause 3(1) and the date the distributor agreement was entered into.
• (2) To avoid doubt, a distributor agreement includes, for the purpose of this clause—
  • (a) all core terms and operational terms; and
  • (b) all terms relating to additional services applied or agreed in accordance with clause 7 or clause 9; and
  • (c) all other terms included in the same agreement as core terms and operational terms, including collateral terms; and
  • (d) an alternative agreement entered into in accordance with clause 8, including all terms for additional services applied or agreed in accordance with clause 7 or clause 9 and any other terms included in the alternative agreement.
• (3) The Authority may publish any distributor agreement or other agreement given to it under subclause (1).

• A distributor must give notice to the Authority that it has entered into or varied an alternative agreement within 10 business days of doing so.

• (1) This clause applies to a distributor and a participant that entered into an agreement for services that commenced before the date on which the distributor made a default distributor agreement, that applies in respect of the arrangement between the distributor and the participant, available on its website under clause 6(1) of Schedule 12A.4 (“existing agreement”).
• (2) The distributor must, no later than 10 business days after the date on which the distributor makes its default distributor agreement available on its website, offer to contract with the participant on the terms set out in the default distributor agreement.
• (3) At any time before the default distributor agreement applies as a binding contract between the distributor and the participant under subclause (5), either the participant or the distributor may give the other party notice that the participant or distributor wishes to contract with the other party on the terms set out in the default distributor agreement.
• (4) If either party gives a notice under subclause (3), the relevant default distributor agreement applies as a binding contract between the distributor and the participant with effect from the 10^th business day after the date on which the notice is given, or any other date agreed by the parties.
• (5) Subject to subclause (4), if the distributor and the participant have not agreed on the terms of a distributor agreement to replace the existing agreement at the expiry of 1 months after the date on which the distributor makes its default distributor agreement available on its website, or any other date agreed by the parties—
  • (a) the relevant default distributor agreement applies as a binding contract (being a distributor agreement) between the distributor and the participant with effect from the expiry of that period, and clause 6(5) applies (with all necessary modifications) in respect of the distributor agreement; and
  • (b) the provisions of the existing agreement that directly or indirectly relate to the services described in the relevant default distributor agreement, or any additional services described in an appendix to this Schedule, are deemed to have been terminated with effect from that date.
• (6) Clause 6(4) to (6) apply to a distributor and a participant to which this clause applies as if the participant had given a notice under clause 3(1) and the distributor is the distributor to whom the notice was given.
• (7) Clause 8, which relates to alternative agreements, applies if the parties wish to replace an existing agreement with an alternative agreement.
• (8) Clause 9, which relates to alternative terms for additional services, applies if the parties wish to agree to alternative terms for an additional service.

This Schedule sets out provisions that apply to each distributor described in a row in column 1 below, and each participant described in column 2 of the row:

• (1) The Authority may prescribe 1 or more EIEPs that set out standard formats that the distributors and participants specified in the EIEP must use when exchanging information.
• (2) The Authority must publish an EIEP that it prescribes under subclause (1).
• (3) When prescribing an EIEP under subclause (1), the Authority must specify the date on which the EIEP will come into effect.
• (4) Before the Authority prescribes an EIEP under subclause (1), or amends an EIEP it has prescribed under subclause (1), it must consult with the participants that the Authority considers are likely to be affected by the EIEP.
• (5) The Authority need not comply with subclause (4) if it proposes to amend an EIEP prescribed under subclause (1) if the Authority is satisfied that—
  • (a) the nature of the amendment is technical and non-controversial; or
  • (b) there has been adequate prior consultation so that the Authority has considered all relevant views.

• (1) If the Authority prescribes an EIEP under clause 2, the distributor and each participant to which the EIEP applies must, when exchanging information to which the EIEP relates, comply with the EIEP from the date on which the EIEP comes into effect.
• (2) However, a distributor and a participant may, after the Authority prescribes an EIEP, agree to exchange information other than in accordance with the EIEP, by recording the agreement in the distributor agreement between the distributor and the participant.
• (3) An agreement to exchange information other than in accordance with an EIEP is not effective in relieving a distributor and a participant of the obligation to comply with subclause (1), unless the agreement comes into effect on or after the date on which the relevant EIEP comes into effect.
• (4) An agreement under subclause (2) is not affected by the Authority prescribing an amendment to the EIEP.

• Any EIEP that a distributor or a participant was required to comply with immediately before this clause came into force is deemed to be an EIEP prescribed under clause 2.

• This Schedule sets out provisions that apply to each distributor described in a row in column 1 below, and each participant described in column 2 of the row:

• (1) A trader trading on a distributor's embedded network must have a distributor agreement with the distributor.
• (2) A trader must ensure that the distributor agreement comes into force on or before the day on which the trader commences trading on the embedded network.
• (3) A trader that wishes to trade on a distributor's embedded network must give notice to the distributor of that fact at least 20 business days before the trader proposes to commence trading on the embedded network.

• Clauses 4 to 8 apply in relation to a distributor agreement between a distributor and a trader if—
  • (a) the distributor has an interposed arrangement with 1 or more traders trading on the embedded network; and
  • (b) the distributor requires that the distributor agreement provide that the trader—
    • (i) must comply with prudential requirements; or
    • (ii) must comply with prudential requirements if required to do so by the distributor.

• (1) The distributor must ensure that the distributor agreement provides that the trader may elect to comply with the prudential requirements in either of the following ways:
  • (a) the trader must maintain an acceptable credit rating in accordance with clause 5; or
  • (b) the trader must provide and maintain acceptable security by, at the trader's election,—
    • (i) providing the distributor with a cash deposit; or
    • (ii) arranging for a third party with an acceptable credit rating to provide that security in a form acceptable to the distributor; or
    • (iii) providing a combination of the securities described in subparagraphs (i) and (ii).
• (2) The distributor must ensure that the distributor agreement provides that the trader may change its election at any time.

• For the purpose of clause 4(1)(a) and 4(1)(b)(ii), a trader or third party has an acceptable credit rating if it—
  • (a) carries a long term credit rating of at least—
    • (i) BBB- (Standard & Poors Rating Group); or
    • (ii) a rating that is equivalent to the rating specified in subparagraph (i) from a rating agency that is an approved rating agency for the purposes of section 86 of the Non-bank Deposit Takers Act 2013; and
  • (b) is not subject to negative credit watch or any similar arrangement by the agency that gave it the credit rating.

• (1) Subject to clause 7, the value of the acceptable security described in clause 4(1)(b) must be the distributor's reasonable estimate of the distribution services charges that the trader will be required to pay to the distributor in respect of any period of not more than 2 weeks.
• (2) The distributor must ensure that its distributor agreement specifies that, if the trader elects to provide acceptable security as described in clause 4(1)(b), the distributor must—
  • (a) hold any security provided by the trader in the form of a cash deposit in a trust account in the name of the trader at an interest rate that is the best on-call rate reasonably available at the time the trader provides the cash deposit; and
  • (b) pay interest earned in respect of the cash deposit to the trader on a quarterly basis, net of account fees and any amounts that are required to be withheld by law.

• (1) A distributor may require that its distributor agreement provides 1 or both of the following:
  • (a) that if the trader elects to provide acceptable security as specified in clause 4(1)(b), the trader must provide acceptable security that is additional to the amount provided for in clause 6(1):
  • (b) that the distributor may, during the term of the distributor agreement, require the trader to provide such additional security.
• (2) If a distributor agreement has a provision provided for in subclause (1), the distributor must ensure that the total value of additional security specified in the distributor agreement is such that the total value of all security required to be provided by the trader is not more than the distributor's reasonable estimate of the distribution services charges that the trader will be required to pay to the distributor in respect of any 2 month period.
• (3) If a distributor agreement has a provision provided for in subclause (1), the distributor must ensure that the distributor agreement provides the following:
  • (a) if any additional security provided by the trader is in the form of a cash deposit, the distributor must pay a charge to the trader for each day that the distributor holds the additional security at a per annum rate equal to the sum of the bank bill yield rate for that day plus 15% on the amount of additional security held on that day:
  • (b) if any additional security provided by the trader is in the form of security from a third party, the distributor must pay a charge to the trader for each day that the distributor holds the additional security at a per annum rate of 3% on the amount of additional security held on that day:
  • (c) any money required to be paid by the distributor to the trader as specified in paragraph (a) or (b) must be paid by the distributor to the trader on a quarterly basis.
• (4) For the purposes of this clause, the bank bill yield rate is—
  • (a) the daily bank bill yield rate (rounded upwards to 2 decimal places) published on the wholesale interest rates page of the website of the Reserve Bank of New Zealand (or its successor or equivalent page) on that day as being the daily bank bill yield for bank bills having a tenor of 90 days; or
  • (b) for any day for which such a rate is not available, the bank bill yield rate is deemed to be the bank bill yield rate determined in accordance with paragraph (a) on the last day that such a rate was available.

• Despite clauses 4 to 7, a distributor and a trader may agree prudential requirements that are less onerous on the trader than the requirements described in clauses 4 to 7.

• (1) A distributor must consult with each trader trading on the distributor's embedded network in respect of the distributor's pricing structure for the consumers with which the distributor does not have a contract in respect of the conveyance of electricity before making a change to the pricing structure that materially affects 1 or more traders or consumers.
• (2) For the purpose of subclause (1), changes to a distributor's pricing structure that may materially affect 1 or more traders or consumers include, but are not limited to, any of the following:
  • (a) a change by the distributor to the eligibility criteria for 1 or more of the distributor's prices:
  • (b) a change by the distributor to the distributor's pricing structure by the introduction of a new price:
  • (c) a change by the distributor to the distributor's pricing structure that means that 1 or more of the distributor's prices are no longer available.
• (3) However, the fact that a change is listed in subclause (2) does not mean that a distributor is required to consult on the change if the change will not materially affect traders or consumers.

• (1) A distributor may, by notice in writing, require a trader to provide information to the distributor, to enable the distributor to invoice and reconcile charges for distribution services.
• (2) A trader may, by notice in writing, require the distributor to provide information to the trader, to enable the trader to invoice and reconcile charges for distribution services.
• (3) A trader or distributor that receives a notice under subclause (1) or subclause (2) must provide the information no later than 15 business days (or such other date as agreed between the parties) after receiving the notice.
• (4) Nothing in this clause prevents the distributor and the trader agreeing to provide volume information to each other for a purpose other than to enable invoicing and reconciling of charges for distribution services.

• This Schedule sets out provisions that apply to each distributor described in a row in column 1 below, and each participant described in column 2 of the row:

• Each distributor must have a default distributor agreement for each type of arrangement described in clause 1 to which the distributor is a party.

• (1) A distributor must ensure that each default distributor agreement that it is required to have includes—
  • (a) each core term set out in the relevant default distributor agreement template; and
  • (b) operational terms that meet each of the requirements set out in the relevant default distributor agreement template, which are the requirements that are in text boxes and shaded in the default distributor agreement template; and
  • (c) collateral terms (if any) that the distributor proposes to include in each distributor agreement that it enters into for the type of arrangement to which the default distributor agreement applies; and
  • (d) any terms relating to additional services that the distributor intends to require be applied in accordance with clause 7 of Schedule 12A.1.
• (2) [Revoked].
• (3) A distributor must ensure that any collateral terms it includes in a default distributor agreement under subclause (1)(c)—
  • (a) are clearly identified as collateral terms and not core terms or operational terms; and
  • (b) are not inconsistent with, and do not modify the effect of, any of the following terms:
    • (i) core terms in the relevant default distributor agreement and default distributor agreement template; or
    • (ii) operational terms in the relevant default distributor agreement.
• (4) For the purpose of this Part, the default distributor agreement template that applies in respect of each distributor described in a row in column 1 below is set out in the appendix described in column 2 of the row:

• (1) This clause sets out principles that must be applied by—
  • (a) each distributor when it sets the operational terms in a default distributor agreement; and
  • (b) the Rulings Panel when it reviews 1 or more operational terms under clause 8.
• (2) The principles are that a distributor's operational terms must—
  • (a) be consistent with the Authority's main objective in section 15 of the Act; and
  • (b) reflect a fair and reasonable balance between the legitimate interests of the distributor and the requirements of the participant trading on, connected to, or using the distributor's network or equipment connected to the distributor's network; and
  • (c) reflect the interests of consumers on the distributor's network; and
  • (d) reflect the reasonable requirements of all participants trading on, connected to, or using the distributor's network or equipment connected to the distributor's network, and the ability of the distributor to meet those requirements.

• (1) A distributor must not include an operational term in a default distributor agreement that is inconsistent with, or modifies the effect of, any core term that the distributor must include in the default distributor agreement.
• (2) In setting the operational terms in a default distributor agreement, a distributor must apply the principles set out in clause 4(2).

• (1) Each distributor described in a row in column 1 below must make the default distributor agreement that applies in respect of the arrangement described in row 1 available on its website from the date specified in column 2:

• (2) A distributor must, before making a default distributor agreement available on its website, consult each participant that the distributor considers is likely to be affected by the default distributor agreement, on the operational terms that the distributor proposes to include in its default distributor agreement.
• (3) A distributor must, no later than 2 business days after making a default distributor agreement available on its website, advise each participant described in subclause (2) that the default distributor agreement is available on the distributor's website.
• (4) [Revoked].

• (1) A participant that participated in consultation under clause 6(2) in respect of a default distributor agreement may appeal to the Rulings Panel against the inclusion of 1 or more operational terms in the default distributor agreement by giving notice to the Rulings Panel and the relevant distributor by the date specified in subclause (2).
• (2) The participant must give the notice no later than 40 business days after the distributor gives notice under clause 6(3) that its default distributor agreement is available on its website.

• (1) If the Rulings Panel receives a notice from a participant before the end of the period specified in clause 7, the Rulings Panel must, no later than 10 business days after receiving the notice, advise the participant that the Rulings Panel will—
  • (a) review 1 or more of the operational terms to which the notice relates; or
  • (b) decline to review 1 or more of any such terms, giving reasons.
• (2) In reviewing an operational term in a default distributor agreement, the Rulings Panel must apply the principles set out in clause 4(2).
• (3) If the Rulings Panel reviews an operational term, the Rulings Panel must, no later than 20 business days after advising the participant under subclause (1),—
  • (a) confirm the operational term; or
  • (b) amend the operational term, in which case clauses 9 and 10 apply; or
  • (c) direct the distributor to reconsider, either generally or in respect of any specified matter, the operational term, within such time as the Rulings Panel must specify, and give the distributor any such directions as the Rulings Panel thinks fit concerning the reconsideration of the operational term, in which case clause 11 applies.
• (4) If requested by the participant who gave notice under clause 7(1) or the relevant distributor, the Rulings Panel may make an order as to the operational terms that apply on an interim basis until the Rulings Panel makes a decision under subclause (3).
• (5) Nothing in this clause permits the Rulings Panel to amend an amount that is charged by the distributor to the participant party to the default distributor agreement.

• (1) This clause applies if the Rulings Panel amends 1 or more operational terms of a default distributor agreement in accordance with clause 8(3)(b).
• (2) Each such operational term in the default distributor agreement is deemed to be amended accordingly.
• (3) The distributor must—
  • (a) make an updated version of the default distributor agreement that includes each amended operational term available on its website no later than 5 business days after the date of the Rulings Panel's decision; and
  • (b) advise each participant that the distributor considers is likely to be affected by the amendment to the default distributor agreement, that an updated version of the agreement is available on the distributor's website no later than 2 business days after making the agreement available on its website.

• (1) If the Rulings Panel amends an operational term under clause 8(3)(b), the Rulings Panel must, at the time that it amends the term, stipulate 1 of the following in respect of each distributor agreement that the distributor has with a participant that includes the operational term:
  • (a) that the distributor or the participant may elect to amend their distributor agreement to include the amendment by giving notice to the other party:
  • (b) that the distributor may elect to amend its distributor agreement with the participant to include the amendment by giving notice to the participant:
  • (c) that the participant may elect to amend its distributor agreement with the distributor by giving notice to the distributor.
• (2) The distributor or participant must give a notice recording its election under subclause (1) no later than 10 business days after the date on which the distributor advised the participant that the updated default distributor agreement was available on its website under clause 9(3)(b).
• (3) If a notice is given by a distributor or a participant within the timeframe specified in subclause (2), the distributor agreement to which the notice relates is deemed to be amended to include the amended operational term from the date on which the notice is received by the distributor or participant.
• (4) Subclauses (1) to (3) do not apply in respect of any distributor agreement that the distributor has with a participant in which the operational term has been amended or omitted.

• (1) If a distributor amends 1 or more operational terms of a default distributor agreement after being directed to reconsider the term by the Rulings Panel under clause 8(3)(c), the distributor must—
  • (a) make an updated version of its default distributor agreement that reflects the amendment available on its website no later than 5 business days after making the amendment; and
  • (b) advise each participant that the distributor considers is likely to be affected by the amendment to the default distributor agreement that an updated version of the agreement is available on the distributor's website, no later than 2 business days after making the agreement available.
• (2) Clauses 7 and 8 apply (with all necessary modifications) in respect of an amendment to a default distributor agreement made under subclause (1).

• If the Authority amends the core terms in the default distributor agreement template (including by adding or removing core terms) a distributor must amend its default distributor agreement to reflect the amendment and make the amended default distributor agreement available on its website no later than 15 business days (or such longer period as the Authority may allow) after the date of amendment to the default distributor agreement template.

• (1) A distributor may amend 1 or more operational terms of a default distributor agreement by making the default distributor agreement with the amended operational terms available on its website.
• (1A) If the Authority amends the requirements for operational terms in the default distributor agreement template (including by adding or removing requirements), a distributor must amend the operational terms in its default distributor agreement to reflect the amendment and make the amended default distributor agreement available on its website no later than the earlier of—
  • (a) the date that the distributor next amends 1 or more operational terms in its default distributor agreement under subclause (1); or
  • (b) the date that is 3 years after the amendment to the requirements for operational terms comes into force; or
  • (c) any other date specified in the Code.
• (2) Before a distributor amends a default distributor agreement, it must consult each participant that the distributor considers is likely to be affected by the amendment. A distributor must, no later than 2 business days after making a default distributor agreement with the amended operational terms available on its website, advise each participant described in subclause (2) that the default distributor agreement with the amended operational terms is available on the distributor's website.
• (3) Clauses 7 and 8 apply (with all necessary modifications) in respect of an amendment to a default distributor agreement made under subclause (1) or (1A) as if the amendment was a default distributor agreement.

• A distributor may amend 1 or more collateral terms of a default distributor agreement (including by adding or removing collateral terms) by making the default distributor agreement with the amended collateral terms available on its website.

• A distributor must amend its default distributor agreement to remove any recorded terms and make the amended default distributor agreement available on its website no later than 15 business days (or such longer period as the Authority may allow) after the date of the corresponding amendment to the default distributor agreement template.

• (1) If the Authority amends the core terms in the default distributor agreement template (including by adding or removing core terms) existing agreements are deemed to be amended accordingly with effect from the date of the amendment to the default distributor agreement template.
• (2) If operational terms in a default distributor agreement are amended in accordance with clause 12, existing agreements are deemed to be amended accordingly with effect from the date the amended default distributor agreement is made available on a distributor’s website under clause 12.
• (3) If collateral terms in a default distributor agreement are amended in accordance with clause 12A, existing agreements are not affected unless a distributor obtains agreement to the amendment from the other party.
• (4) If an existing agreement includes a recorded term, that recorded term is deemed to be removed with effect from the date—
  • (a) a core term that corresponds to the recorded term (with or without modification) takes effect under subclause (1); or
  • (b) an operational term that corresponds to the recorded term (with or without modification) takes effect in accordance with subclause (2).
• (5) In this clause “existing agreement” means a distributor agreement entered into before the default distributor agreement template is amended or an amended default distributor agreement is made available on a distributor’s website (whichever applies).

• (1) A participant who refers a dispute under the default distributor agreement to arbitration must give the Authority a copy of the arbitration decision to the extent that it relates to the interpretation of the default distributor agreement or provisions of the default distributor agreement.
• (2) Nothing in this clause requires a participant to give the Authority any information for which a good reason to refuse to supply Code information applies under clause 2.6 as if the information is Code information.
• (3) For the purposes of subclause (2), an agreement between the parties to a dispute not to supply information under this clause does not constitute a good reason to refuse to comply with subclause (1).