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PART IIPrices, Pay, .Dividends and Rents

Prices and pay

5Notification of price and pay increases, and approvals and consents

(1)The Minister may, in such cases as appear to him appropriate, by order make provision to ensure that the Agencies receive notice of increases in any prices, charges or remuneration in time to consider whether the increases conform with the relevant provisions of the code, and whether the Agencies should exercise the powers conferred by the following provisions of this Act in order to prevent those increases.

(2)The order may provide that, until the end of the period given for consideration of the proposed increase by the Agency, any implementation of the increase constitutes a contravention of the order.

(3)The length of notice required by an order under this section shall not exceed eight weeks.

(4)Schedule 2 to this Act shall have effect as respects—

(a)procedures for obtaining the Agencies' approval for increases, and

(b)procedures for giving consents overriding the Agencies' orders and notices about prices, charges and remuneration.

(5)An order under this section or under the said Schedule 2 may be made to come into force before the time when this Part of this Act is in force, and may require notices to be given before that time.

(6)An order under this section shall be subject to annulment in pursuance of a resolution of either House of Parliament.

6Powers of Price Commission

(1)The Price Commission shall exercise the powers conferred by this section in such ways as appear to them appropriate for the purpose of ensuring that the provisions of the code which concern prices and charges are implemented.

(2)For the said purpose the Price Commission may restrict any prices or charges for the sale of goods or the performance of services in the course of business, where the relevant transaction is effected at a time when this Part of this Act is in force.

(3)The powers conferred by subsection (2) above shall be exercisable by order, or by notice given to the person, or each of the persons, selling the goods or performing the services subject to the restriction.

(4)Before making or giving an order or notice under this section (other than one which only removes or lessens a restriction), the Price Commission shall give 14 days notice to the persons selling the goods or performing the services which would be subject to the restriction, and shall afford to those persons an opportunity of making written representations to the Price Commission.

(5)If, in the case of an order under this section, it appears to the Price Commission to be impracticable to give notice under subsection (4) above to all the persons selling the goods or performing the services, they may instead publish 14 days notice of their intention to make the order in the Gazette and in such other ways as may be prescribed, and shall afford to all those persons an opportunity of making written representations to the Price Commission.

(6)Where an order or notice under this section is contravened, the liability for the contravention attaches to the person selling the goods or performing the services.

(7)This section has effect subject to section 3(3) of this Act.

7Powers of Pay Board

(1)The Pay Board shall exercise the powers conferred by this section in such ways as appear to them appropriate for the purpose of ensuring that the provisions of the code which concern remuneration are implemented.

(2)For the said purpose the Pay Board may restrict any kind of remuneration for a period when this Part of this Act is in force.

(3)The powers conferred by subsection (2) above shall be exercisable by order, or by notice given to the person, or each of the persons, paying the remuneration subject to the restriction.

(4)Before making or giving an order or notice under this section (other than one which only removes or lessens a restriction), the Pay Board shall give 14 days notice—

(a)to the person or persons paying the remuneration which would be subject to the restriction, and

(b)to any organisation or organisations of workers which appear to the Pay Board to be concerned,

and shall afford to those persons an opportunity of making written representations to the Pay Board.

(5)If it appears to the Pay Board—

(a)in the case of an order, that it is impracticable to give notice under subsection (4) above to all the persons paying the remuneration, or

(b)in any case, that a substantial number of those receiving the remuneration are not represented by any organisation of workers, the Pay Board shall publish 14 days notice of their intention to make the order, or to give the notice, in the Gazette and in such other ways as may be prescribed.

(6)Where an order or notice under this section makes it illegal to pay remuneration of any amount, it shall also be illegal to enter into any agreement or arrangement whereby the employer makes to, or for the benefit of, the employee some payment, whether called remuneration or not, to compensate for the remuneration which it is illegal to pay; and an employer who enters into any such agreement or arrangement, or makes any payment pursuant to any such agreement or arrangement, contravenes the provisions of the order or notice.

8Power to modify Acts about prices and pay

(1)The Minister may by order direct that—

(a)any provision of any Act, whether passed before this Act or later, which relates to prices, charges or to remuneration or other terms or conditions of employment, or

(b)any provision having effect under any Act within paragraph (a) above,

shall, while this Part of this Act is in force, have effect subject to such exceptions, modifications or adaptations as may be specified in the order.

(2)An order under this section shall be subject to annulment in pursuance of a resolution of either House of Parliament.

9Restrictions on insurance premiums

(1)The Secretary of State shall have power to restrict insurance premiums, where the relevant transaction is effected at a time when this Part of this Act is in force.

(2)The powers conferred by subsection (1) above shall be exercisable by order, or by notice given to the insurer, or each of the insurers, affected by the notice.

(3)An order or notice under this section may make provision for the giving of consents by the Secretary of State to title doing of anything otherwise prohibited by the order or notice.

(4)Before making or giving an order or notice under this section (other than one which only removes or lessens a restriction), the Secretary of State shall give 14 days notice to the insurers who would be affected by the order or notice, and shall afford to them an opportunity of making written representations to the Secretary of State.

(5)If, in the case of an order under this section, it appears to the Secretary of State to be impracticable to give notice under subsection (4) above to all the said persons, the Secretary of State may instead publish 14 days notice of his intention to make the order in the Gazette and in such other ways as may be prescribed, and shall afford to all those persons an opportunity of making written representations to the Secretary of State.

(6)Where an order or notice under this section is contravened, the liability for the contravention attaches to the insurer who charges the insurance premium.

(7)An order under this section shall be subject to annulment in pursuance of a resolution of either House of Parliament.