Notification to Tribunal of proposed increases in prices or proposed prices of goods or services
18 Notification to Tribunal of proposed increases in prices or proposed prices of goods or services
A company to which this Act applies shall not supply goods or services of a particular description at a price that is higher than the highest price at which the company supplied goods or services of that description on the same or substantially similar terms and conditions during the immediately preceding month unless—
a notice in writing stating that the company proposes to supply goods or services of that description at that higher price has been given, as prescribed, to the Tribunal; and
the prescribed period has expired or the Tribunal has served notice in writing on the company before the expiration of that period stating that the Tribunal does not intend to hold an inquiry as to whether the proposed price is justified.
Penalty: Ten thousand dollars.
A company to which this Act applies shall not supply goods or services of a particular description at any price where it has not previously supplied goods or services of that description, or has not previously supplied goods or services of that description on the same or substantially similar terms and conditions, unless—
a notice in writing stating that the company proposes to supply goods or services of that description at that price has been given, as prescribed, to the Tribunal; and
the prescribed period has expired or the Tribunal has served notice in writing on the company before the expiration, of that period stating that the Tribunal does not intend to hold an inquiry as to whether the proposed price is justified.
Penalty: Ten thousand dollars.
At any time after a company has given a notice to the Tribunal, under this section specifying a price at which the company proposes to supply goods or services and before the Tribunal commences to hold an inquiry as to whether that price is justified—
the company may give, as prescribed, to the Tribunal a further notice stating that the previous notice is to have effect as if there were substituted for the price specified in that notice such lower price as is specified in the further notice; and
where a further notice is so given by the company—
the previous notice by the company has effect in. accordance with the further notice; and
if the Tribunal has served notice on the company stating that the Tribunal intends to hold an inquiry as to whether the proposed price is justified—the Tribunal may, by notice in writing served on. the company, withdraw the notice previously served on the company and, in that case, this section has effect as if that notice had not been so served on the company.
Subject to sub-section (5), the prescribed period for the purposes of sub-section (1) or (2) is the period of twenty-one days that commenced on the day on which the notice referred to in paragraph (1)(a) or (2)(a), as the case may be, was given to the Tribunal.
If the Tribunal serves notice in writing on. the company before the expiration of the period of twenty-one days referred to in sub-section (4) stating that the Tribunal intends to hold an inquiry as to whether the proposed higher price or the proposed pries, as the case may be, is justified,
the prescribed period for the purposes of sub-section (1) or (2) is the period that commenced, on the day on which the notice referred to in paragraph (1)(a) or (2)(a), as the case may be, was given to the Tribunal and ends on whichever is the earliest of the following days:—
the day on which the Minister makes available to the public the report of the Tribunal in relation to the proposed higher price or the proposed price:
the fourteenth day after the day on which the report of the Tribunal in relation to the proposed higher price or the proposed price is furnished to the Minister; or
the fourteenth day after the expiration of—
the period of three months that commenced on the day on, which the Tribunal served notice on the company that it intended to hold the inquiry; or
such further period as is, or such further periods as are, specified in a notice or notices served on the company under sub-section 19(2).
When a report of the Tribunal in relation to the price at which a company proposes to supply goods or services of a particular description is furnished to the Minister—
the Minister shall make the report available to the public within fourteen days after the day on which it is furnished to him;
the company shall, within fourteen days after the report is so made available, give notice in writing to the Minister specifying the price at which the company is supplying or proposes to supply goods or services of that description; and
the Minister shall make particulars of the price available to the public within fourteen days after the day on which the notice is given to him.
A company that contravenes paragraph (6)(b) is guilty of an. offence punishable, on conviction, by a fine not exceeding One thousand dollars.
The Tribunal may, by resolution, authorize the Chairman to exempt a specified company, or companies included in a specified class of companies, either generally or otherwise, from the application of this section and may, by further resolution, authorize the Chairman to revoke such an exemption.
An exemption, or the revocation of an exemption, under sub-section (8) shall be in writing and a copy of the exemption, or revocation shall be published in the Gazette, and such an exemption, or revocation takes effect on the date of publication of the copy.
Evidence of an exemption, or of a revocation of an. exemption, under sub-section (8) may, in any legal proceedings, be given by the production of the Gazette purporting to contain a copy of the exemption or revocation.
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