WORK OF PRICE TRIBUNAL

Southland Times, Issue 23839, 9 June 1939, Page 8

WORK OF PRICE TRIBUNAL

REQUIREMENTS OF REGULATIONS INCREASES MAY BE MADE BEFORE APPROVAL (United Press Association) WELLINGTON, June 8. Some commercial firms are under the impression that since the setting up of the Price Investigation Tribunal, price increases may not be made until the tribunal’s approval is received, but from inquiries made in official circles it is ascertained that is not so. The only requirement is that before a price is increased the firm concerned must notify the tribunal of the proposed increase and the reasons for it, but there is no need to wait for the tribunal’s approval before the increase is actually made. It was pointed out, however, that firms making price increases in such circumstances had to stand the risk of whether the new price would be allowed to stand or whether the tribunal would require an alteration. The period of seven days grace before the regulations for the setting up of the tribunal become operative does not expire until tomorrow, but already a number of notifications of increases and requests for approval of higher prices has been received. It is expected that the bulk will not begin to reach the tribunal until next week. The principal object of the regulations, it is stated, was to provide the tribunal with information about price increases so it could consider whether increases in individual cases were justified or not.