- The Office of Utilities Regulation (Office/OUR) in carrying out its functions must ensure that due diligence procedures are applied when processing licence applications relative to the provision of prescribed utility services. Prescribed utility services refer to the provision of telecommunications, water, sewerage and electricity services (hereinafter referred to as “utility services”).
- For the purpose of this policy, a due diligence review is a systematic process of enquiry, investigation and assessment conducted by the Office to satisfy itself that an applicant can be recommended for the grant or renewal of a licence to provide utility services. For the purpose of this policy a reference to the grant of licence includes a renewal of licence.
- The due diligence process outlined in this policy is designed to ensure that the Office adheres to the legislative requirements prior to making a recommendation for the grant of licence. The policy seeks to ensure that there are adequate controls and procedures in place to ensure that a successful applicant for the grant of a licence fulfils the legal criteria, including being a fit and proper person for whom a recommendation for the grant of a licence can be made by the OUR to the responsible Minister.