Counter-Inflation Act 1973

Procedure for approving proposed increases

1 (1) The Minister may by order establish procedures by which, in cases prescribed by the order, either Agency will be required—

(a) to entertain proposals for increases of prices, charges or remuneration, and

(b) where satisfied that the increases ought to be allowed, to approve the proposals.

(2) An order under this paragraph—

(a) shall prescribe the time within which an Agency are to give their decision whether or not to approve the proposal, and

(b) may provide that, in circumstances specified in the order, the Agency shall be deemed to have given their approval for the purposes of any provision of this Schedule so specified if they have not duly notified the applicant of their decision within the time prescribed under paragraph (a) above, and

(c) may prescribe some earlier time limit by which the Agency are to be deemed to have given their approval if they have not given notice to the applicant that the application is still under consideration, and

(d) may make it a contravention of the order to implement the increase before the time limit under paragraph (a) above, or (where the application is then no longer under consideration) before such earlier time as is specified in the order.

(3) A proposal for an increase which an Agency are required to entertain under this Schedule shall be made to the Agency in such form and manner as may be prescribed by the Agency.

2 (1) Where an Agency approve proposals for an increase in accordance with an order under paragraph 1 above, the Agency shall not exercise their powers under Part II of this Act so as to restrict any price or charge, or any kind of remuneration, where the price or charge or remuneration is duly authorised by the approval.

(2) In exercising their powers under an order under paragraph 1 above, an Agency may frame an approval of proposals for an increase in such way as appears to them appropriate for the purpose of ensuring that the provisions of the code are implemented.

(3) In acting under sub-paragraph (2) above an Agency may—

(a) attach any conditions to an approval, and

(b) limit or qualify an approval to allow for any change in circumstances, and

(c) limit the duration of an approval.

(4) An order under paragraph 1 above which provides that an Agency shall be deemed to have given their approval in any circumstances may impose any such conditions, limitations or qualifications as might have been imposed by the Agency under the preceding provisions of this paragraph.

3 Where notice of an increase is given under section 5 of this Act, an order under paragraph 1 above may treat that notice as an application for approval of the increase.

4 (1) Any reference in this Act to an order under Part II of this Act shall include a reference to an order under paragraph 1 above.

(2) An order under paragraph 1 above shall be subject to annulment in pursuance of a resolution of either House of Parliament.