National Security (Prices) Regulations (Amendment)

Overview

The Statutory Rules 1948 No. 44, made under the Defence (Transitional Provisions) Act 1946-1947, introduced a regulation aimed at addressing issues arising from the post-war economic transition by giving the Commissioner the power to prohibit certain transactions deemed to be against the national interest. Enacted by the Governor-General in Council, this regulation allows the Commissioner to intervene when a vendor's scheme, which deviates from their normal course of trading and artificially inflates the cost of declared goods or services, is identified. The policy objective is to prevent economic manipulation that could undermine the stability and fairness of the post-war economy.

Scope and Application

This statutory rule, made under the Defence (Transitional Provisions) Act 1946-1947, amends the National Security (Prices) Regulations by inserting a new regulation that provides the Commissioner with the authority to prohibit certain transactions involving declared goods or services. The rule applies to any person who carries on the business of selling declared goods or supplying declared services and who is suspected by the Commissioner of operating a scheme that results in purchasers paying more than the maximum price or rate fixed under the regulations. The regulation allows the Commissioner to specify a class of transactions that must cease unless the Commissioner grants consent, and the regulation applies to individuals and entities involved in the sale or supply of declared goods or services. The amendment extends to the entire Commonwealth of Australia and does not specify any exclusions or thresholds within the text. The regulation may be further defined or expanded through subordinate instruments, which could provide additional detail on the types of schemes or transactions that fall under its purview.

Key Provisions

The key provisions of this regulation (Regulation 23c) allow the Commissioner to intervene in certain business transactions involving the sale or supply of declared goods or services, where there is a perceived departure from the normal course of trading that results in higher costs for purchasers or consumers. Under this regulation, the Commissioner can issue a written notice specifying a class of transactions that must not be entered into by the vendor, unless the Commissioner consents. The regulation is designed to prevent vendors from operating schemes that raise prices beyond the maximum price or rate set under the National Security (Prices) Regulations. The regulation will have full effect even if it does not specify or describe the scheme in question. The regulation imposes obligations on vendors of declared goods or services to comply with the notice issued by the Commissioner. If a notice is issued under Regulation 23c, vendors are prohibited from entering into any transactions included in the specified class, unless the Commissioner grants consent. Vendors must ensure that they do not engage in any transactions that fall within the prohibited class, while the notice remains in force. Failure to comply with the regulation may result in legal consequences. Breaches of this regulation can lead to civil or criminal consequences. Vendors who fail to comply with the notice may be subject to penalties, although the specific penalties are not detailed in the regulation. The regulation provides a mechanism for the Commissioner to take action to prevent price gouging and protect consumers from being charged excessive prices for declared goods or services. The regulation is part of a broader framework of price controls and regulations that were implemented during and after World War II to manage the economy and ensure fair pricing for essential goods and services.