40. Amendment of section 63C

In the Gas Act, in section 63C —

in subsection (1)(a), after “the person”, insert “, and every associate of the person known to the Authority,”;

in subsection (1)(b), replace “person’s likely influence” with “likely influence of the person and every associate of the person known to the Authority”; and

after subsection (1), insert —“(1A) The Authority may approve an application of a person for the Authority’s approval under section 63B(3A) if the Authority is satisfied that —

the designated gas licensee, the designated entity or the trustee‑manager of the designated business trust will continue to conduct its business or the business of the business trust (as the case may be) prudently and comply with the provisions of this Act, despite the person ceasing to be a 50% controller or a 75% controller; and

it is in the public interest to do so.”.