Functions of Price-Fixing Tribunal Set Out by Minister

Northern Advocate, 5 June 1939, Page 6

Functions of PriceFixing Tribunal Set Out by Minister

[Per Press Association—Copyright.] CHRISTCHURCH, This Day AN EXPLANATORY STATEMENT REGARDING THE BOARD OF TRADE PRICE-INVESTIGATING REGULATIONS, WHICH WERE ISSUED ON SATURDAY NIGHT. WAS MADE BY THE MINISTER OF INDUSTRIES AND COMMERCE, THE HON. D. G. SULLIVAN. He said that these regulations followed upon the appointing by the Government of a Price Investigation Tribunal, comprising Mr Justice Hunter and Mr H. L. Wise.

“The regulations require all persons engaged in the business of selling any of the goods or classes specified in the schedule to the regulations to notify the tribunal in Wellington of 'any price increases after the day of enactment of the regulations, and to give reasons for such , higher prices,” said the Minister. Heavy Penalties Provided.

“If the person fails to notify the tribunal accordingly, a breach of the regulations is committed, and the person is liable to the penalties prescribed by the Board of Trade Act for offences against the regulations, which render any offender liable to a fine of up to £IOOO or to imprisonment for a term not exceeding three months.

“Where a person commences to engage in business in any locality after the day of enactment of the regulations, he is not permitted to sell or offer for sale any of the goods specified in the schedule 'at a price exceeding the standard or current market price thereof on that day, unless, prior to so doing, he has given notice to the tribunal of the higher price at which he intends offering goods for sale and the reasons for such higher prices. “The provisions of the regulations (apply, with necessary modifications, to rates or fees charged for the performance of services specified in the schedule.

Scope of Schedule

“The schedule covers all foodstuffs, wearing apparel of all kinds, boots and shoes, and most of the commodities that enter into the everyday use of the average household. In other words, they comprise most of the essential items which enter into the cost of living of the average family. “If it is found desirable, at 'any time, in the interests of, and protection of, the public, to add further goods or services, or classes of goods and services, then this will be done. “The regulations do not cover commodities the price of which is already fixed by an Act of Parliament, or by any regulations passed thereunder, nor do they apply to any goods that are sold by public auction, or to goods of a perishable nature or to any goods sold as secondhand goods.”

A Final Chance

Mr Sullivan s’aid the regulations became operative immediately, taut in order to give the commercial community reasonable warning of the making of the regulations, they have been allowed seven days from the date of enactment, of the regulations in which to give notice of any price increase. This period of seven days’ grace applied only to the first week, and thereafter notification had to be given before any price increase was made.