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Amendment of pending contracts.
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40.—(1) Whenever a contract for the sale of butter for delivery to the purchaser thereof in Saorstát Eireann was entered into before the date of the passing of this Act, and either none or part only of the butter the subject of such sale was delivered to the purchaser before the said date, and the price payable under such contract for the butter contained in any consignment delivered to the purchaser on or after the said date is less than the minimum price in force under this Part of this Act in respect of such butter on the date of such delivery, then and in every such case the price payable under the said contract for the butter contained in such consignment shall be the said minimum price so in force on the said date of delivery and the said contract shall be deemed to be amended and shall have effect accordingly.
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(2) Whenever a contract for the sale of butter for delivery to the purchaser thereof in Saorstát Eireann is entered into on or after the date of the passing of this Act, and the price payable under such contract for such butter is not less than the minimum price (in this sub-section referred to as the original minimum price) in force under this Part of this Act in respect of such butter on the date of such contract, and the original minimum price is altered under this Part of this Act before all the butter the subject of such sale has been delivered to the purchaser, then and in such case the following provisions shall have effect, that is to say:—
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(a) if, on the date of the delivery of any consignment of butter under the said contract, the minimum price (in this sub-section referred to as the new minimum price) in force under this Part of this Act in respect of the butter contained in such consignment is greater than the original minimum price in respect of such butter, the price payable under the said contract for the butter contained in such consignment shall be increased by the difference between the original minimum price and the new minimum price in respect of such butter, and the said contract shall be deemed to be amended and shall have effect accordingly;
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(b) if, on the date of the delivery of any consignment of butter under the said contract, the new minimum price in respect of the butter contained in such consignment is less than the original minimum price in respect of such butter, the price payable under the said contract for the butter contained in such consignment shall be reduced by the difference between the new minimum price and the original minimum price in respect of such butter, and the said contract shall be amended and shall have effect accordingly.
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