Counter-Inflation Act 1973

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.