The objectives of the regulatory framework are set out in the Port Management Act 1995 (Vic) and include:
- promoting the efficient use of, and investment in, the provision of Prescribed Services for the long-term interests of users and Victorian consumers
- ensuring tariffs for Prescribed Services are fair and reasonable whilst having regard to the level of competition in, and efficiency of the Port of Melbourne
- allowing the Port of Melbourne to recover its efficient costs of providing Prescribed Services
- facilitating and promoting competition between ports, shippers and third party operators.
See section 48 of the Port Management Act 1995 (Vic) for the full definition.