AGY-1993 | NSW Prices Commission

Full description

The NSW Prices Commission was established by the Prices Regulation Act 1948. The purpose of this Act was to regulate prices and rates of certain goods and services. This Act was proclaimed on the 18 August 1948 and commenced on the 20 September 1948 (1). This Act was introduced after the expiry of the National Security Act, 1939-1946, with a view to continuing certain controls during the post war period. It was held by the High Court that the Defence (Transitional Provisions) Act had no force after 31st December 1947 (2). This marked the transition from Commonwealth to State control. The transition from Commonwealth to State Price Control was designed to preserve those Commonwealth Prices Orders and Declarations then operative and which related to goods and services declared under State Control (3). With the transfer of Price Control from the Commonwealth to the States in September 1948, there was practically complete agreement between the States as to the extent of future controls. Items which were declared were uniform in all States (6). This Act provided for the appointment of a Prices Commissioner and one or more Assistant Prices Commissioners (4). This Act was a legacy of war-time rationing and an attempt by the government to control inflation and profiteering in the immediate post-war period. Any commodities and services could be declared the subject of price control. These controls could be removed or re-imposed at any time. The Prices Regulation Act was administered by the office of the Prices Commissioner. The Prices Regulation Act was amended in 1976 and as a result of this the New South Wales Prices Commission was established. The office of the Prices Commissioner was replaced by a three-person Commission comprising a full-time Commissioner who acted as Chairman and two part-time Commissioners; one representing consumers, the other being experienced in business or commerce. This Act was to prevent undue increases in prices and rates for goods and services and to regulate prices and rates for goods and services which are essential to the life of the community. The Prices Commissioner has authority to fix the maximum price of goods and services that have been 'declared' by the Minister. This Act requires that a public inquiry be held whenever the Commission has to fix a maximum price for declared goods and services, unless the Minister directs the inquiry to be dispensed with. This occurs by the Commission issuing Prices Regulation Orders. The Commission may extend their inquiries to include whole industries or particular goods. The Commission is supported administratively by the professional resources of the Department of Consumer Affairs, namely, economists, accountants, legal advisers, research assistants and secretarial facilities. In addition, breaches of Prices Regulation Orders in the market place are investigated by the Department’s inspectorial staff and prosecutions for those breaches are instituted by its legal officers. The Act sets out that it shall be administered with a view to: · the prevention of undue increases in prices and rates for goods and services; · the regulation so far as is necessary of prices and rates for goods and services which are essential to the life of the community and of goods and services in general use which are in short supply; · the progressive removal of the control of prices and rates at the earliest possible date consistent with the welfare of the community (5). The Prices Commission appears to have ceased operating around June 1997 as it is no longer mentioned in the Annual Reports or the NSW Government Directories. No repeal of legislation or proclamation in the NSW Government Gazettes could be located to confirm this. FOOTNOTES (1) NSW Government Gazette Vol.2, 1 July-31 December 1948 p.2110 (2) R.F. Atwill, History of Price Control in NSW 1948-1964 Vol.1 p.28 SR Ref: 6/17891 (3) Ibid, p.28 (4) Prices Regulation Act 1948 No.26 p179-180 (5) R.F. Atwill, History of Price Control in NSW 1948-1964 Vol.1 p.46 SR Ref: 6/17891 (6) Ibid, p.147