Prices Justification Act 1973

In this Act, unless the contrary intention appears—

is a foreign corporation;

is a trading or financial corporation incorporated under the law relating to companies in force in a State or in a Territory forming part of Australia; or

is a holding company of a body corporate of a kind referred to in paragraph (a) or (b);

a Justice or Judge of a federal court or of the Supreme Court of a Territory; or

a person who, by virtue of an Act, has the same status as a Justice or Judge of a court referred to in paragraph (a) of this definition;

In this Act—

a reference to the supply of goods does not include a reference to—

a supply for use outside Australia; or

any other prescribed supply; and

a reference to the supply of services does not include a reference to–

a supply outside Australia; or

any other prescribed supply.

For the purposes of this Act, the question whether a body corporate is the holding company of another body corporate shall be determined in the same manner as the question whether a corporation is the holding company of another corporation is determined under the Companies Ordinance.

For the purposes of this Act, the question whether companies are related to each other shall be determined in the same manner as the question whether two corporations arc related to each other is determined under the Companies Ordinance.

In this section, “the Companies Ordinance” means the Companies Ordinance 1962–1973 of the Australian Capital Territory or, if that Ordinance is amended, that Ordinance as amended.

This Act applies in relation to a company only if the sum of the amounts received by that company, or where that company is included in. a prescribed group of companies, by the companies in. that group, during the period of twelve months that ended on the immediately preceding 30th June as payments for the supply of goods, or the supply of services, or both, exceeded Twenty million, dollars.

A reference in sub-section (1) to 30th June shall,, in the case of a company that has, or a prescribed group of companies that have, adopted accounting periods ending on a day other than. 30th June, be read as a reference to that day.

For the purposes of this section, if two or more companies are related to each other—

they constitute a prescribed group of companies; and

each of them is included in any other prescribed group of companies in which any of them is included.

A reference in this section to the supply of goods or services, in relation to a company that, is included in a prescribed group of companies, does not include a reference to the supply of goods or services by that company to another company that is included in. the same group.

There is hereby established a Prices Justification Tribunal, which shall consist of a Chairman and such number of other members as are from time to time appointed in accordance with this Act.

The members shall be appointed by the Governor-General.

A member other than the Chairman may be appointed, as a full-time member or as a part-time member.

For the purposes of sub-sections 4(3a) and (4) of the Superannuation Act 1922–1971 the Chairman and. the full-time members shall each be deemed to be required, by the terms of his appointment, to give the whole of his time to the duties of his office.

Subject to this Act, a member holds office for such period, being a period of not less than one year or more than five years, as is specified in the instrument of his appointment and on such terms and conditions as the Governor-General determines, but is eligible for re-appointment.

A person, other than a Judge, who has attained the age of sixty-five years shall not be appointed or re-appointed as the Chairman or as a full-time member, and a person, other than a Judge, shall not be appointed or re-appointed as the Chairman or as a full-time member for a period that extends beyond the date on which he will attain the age of sixty-five years.

A member, other than a Judge, shall be paid remuneration at such rate, and an annual allowance at such rate (if any), as the Parliament fixes, but, until 1st January, 1974, the rate of that remuneration and the rate of that allowance (if any) shall be as prescribed.

If the Chairman is a Judge and—

the Parliament provides any additional, remuneration or additional annual allowance in relation to the holding by a Judge of the office of Chairman; or

the Parliament does not so provide but provision, is made by the regulations for the payment of such additional remuneration or additional annual allowance,

Regulations made for the purposes of paragraph (2)(b) do not have any effect after 31st December, 1973.

If the Chairman is a Judge, any additional, remuneration payable to him under sub-section (2) forms part of his salary as a Judge for the purposes of the Judges’ Pensions Act 1968.

A member, other than a Judge, shall be paid such other allowances (not including an annual, allowance) as are prescribed.

The Governor-General may terminate the appointment of a member by reason of misbehaviour or physical, or mental incapacity.

If—

a member—

becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his creditors or makes an assignment of his remuneration for their benefit; or

fails to comply with his obligations under section 12; or

the Chairman or a full-time member—

engages in any paid employment outside the duties of his office; or

is absent from duty, except on leave of absence granted by the Minister, for fourteen consecutive days or for twenty-eight days in any twelve months,

The termination of the appointment of the Chairman or of a full-time member by reason of physical or mental incapacity shall be deemed, for the purposes of the Superannuation Act 1922–1971, to be retirement on the ground of invalidity.

Sub-sections (1), (2) and (3) do not apply to a member who is a Judge but, if a member who is a Judge ceases to be a Judge, the Governor-General may terminate his appointment.