Prices (Amendment) Act, 1972

Inquiry into and control of certain additions to prices.

3.—The Principal Act is hereby amended by the insertion in Part IIIA after section 22E (inserted by the Prices (Amendment) Act, 1965 ) of the following section:

“22F. (1) (a) The Minister may inquire into the amounts by which the prices at which any specified commodity is sold in the course of business by persons engaged in trade or commerce, being importers, manufacturers, distributors, wholesalers or retailers of that commodity or any other specified class of such persons, exceed the prices at which that commodity is bought by those persons and may by order fix the maximum such amounts, and different amounts may be fixed in relation to different classes of such persons.

(b) Amounts referred to in paragraph (a) may be specified in an order under this subsection in such manner (including the setting out of provisions by means of which they may be ascertained) and by reference to such matters as the Minister may think appropriate.

(2) (a) The Minister may by order fix the maximum amount which may be added to the prices of or charges for commodities or services in respect of any tax on those commodities or services by persons accountable to the Revenue Commissioners for that tax and the Minister may fix different such amounts for different commodities or services or for different classes of such persons or for both, or may fix different such amounts in respect of different quantities, measured by value, of a commodity or commodities or a service or services sold or rendered by such person.

(b) Amounts may be specified in an order under this section in such manner (including the setting out of provisions by means of which they may be ascertained) and by reference to such matters as the Minister thinks appropriate.”.