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In addition to the duties conferred upon it under paragraph 1 of this Article, when an independent system operator hasbeen designated under Article 14, the regulatory authority shall:

(a) monitor the transmission system owner’s and the independent system operator’s compliance with their obligationsunder this Article, and issue penalties for non compliance inaccordance with paragraph 4(d);

(b) monitor the relations and communications between the independent system operator and the transmission system ownerso as to ensure compliance of the independent system operator with its obligations, and in particular approve contractsand act as a dispute settlement authority between the independent system operator and the transmission system ownerin respect of any complaint submitted by either party pursuant to paragraph 11;

(c) without prejudice to the procedure under Article 14(2)(c), forthe first ten-year network development plan, approve theinvestments planning and the multi-annual network development plan presented annually by the independent systemoperator;

(d) ensure that network access tariffs collected by the independent system operator include remuneration for the networkowner or network owners, which provides for adequateremuneration of the network assets and of any new investments made therein, provided they are economically and efficiently incurred; and

(e) have the powers to carry out inspections, including unannounced inspections, at the premises of transmission systemowner and independent system operator.

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DIRECTIVE 2009/73/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 13 July 2009
Date 21.10.2011.