A regulatory contract is a legal document binding between the ICCC and the regulated entity for a period of five (5) years. Upon expiry of each regulatory contract, a new regulatory contract is set for another five (5) years. Currently, the Regulated Industries Division administers three (3) regulatory contracts and they are;
Postal Services Regulatory Contract
Compulsory Third-Party Motor Vehicle Insurance Contract
PNG Ports Regulatory Contract
A regulatory contract sets out the tariffs and the minimum service standards amongst others to be provided by the regulated entity and the penalties for non-compliance by the regulated entities consistent with the ICCC Act 2002.