Price Commission (Amendment) Act 1979
| Jurisdiction | UK Non-devolved |
| Citation | 1979 c. 1 |
| Year | 1979 |
Price Commission(Amendment) Act 1979
1979 CHAPTER 1
An Act to limit the application of section 9 of the Price Commission Act 1977.
[12th February 1979]
Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
1 Amendment of Price Commission Act 1977.
(1) Section 9 of the Price Commission Act 1977 of that Act (enforcement of orders made in consequence of reports on examinations); and accordingly that Act shall be amended as provided in the following provisions of this section.
(2) Section 4(5)(b ) and (ii) (duty of the Price Commission to give a variation notice to the relevant person in cases where it appears to them that, apart from section 4(5), his profit would, in consequence of a notification under section 4(1), be kept below the profit determined in his case in pursuance of the said section 9) shall cease to have effect.
(3) In section 4(5)—
(a ) after paragraph (a ) there shall be inserted—
‘(aa ) that the whole or part of the increase ought not to be so restricted because of an increase in the costs of imported raw materials,’;
(b ) after paragraph (i ) there shall be inserted—
‘(ia ) it shall be the duty of the Commission, in a case falling within paragraph (aa ) of this subsection, to give to the relevant person a variation notice allowing so much of the increase as they consider ought not to be restricted for the reason mentioned in that paragraph.’.
(4) In section 5(4) (application of section 4(5) in relation to notifications in respect of prices) for the words ‘and for any other reference to the increase there were substituted a reference to the price’ there shall be substituted the words ‘and as if—
(i) in paragraph (aa ), for the words from ‘the whole’ to ‘restricted’ there were substituted the words ‘a particular increase in the price ought not to be restricted by virtue of section 5(3) of this Act’;
(ii) in paragraph (ia ), for the words from ‘so’ to ‘as’ there were substituted the words ‘the increase in the price which’; and
(iii) for any reference to the increase (except those in paragraphs (a ), (aa ) and (ia )) there were substituted a reference to the price;’.
(5) In section 7 (restrictions, undertakings and orders in consequence of reports on investigations) there shall be omitted—
(a ) in subsection (1), the words ‘and subject to section 9 of this Act’;
(b ) in subsection (5)(a )(ii), the words ‘except by virtue of section 9 of this Act’;
(c ) subsection (7)(b ) and the word ‘and’ preceding it; and
(d ) in subsection (8), the words ‘apart from section 9 of this Act’.
(6) In section 9 (safeguard for basic profits)—
(a )...
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