Commonwealth Numbered Acts

PETROLEUM PRODUCTS PRICING ACT 1981 No. 117, 1981 - SECT 16

PART III-FUNCTIONS OF THE AUTHORITY

16. (1) The functions of the Authority are to conduct inquiries in accordance
with this Part in relation to-

   (a)  the prices for the supply of petroleum products; and

   (b)  the prices for the supply of services, and to report to the Minister
        the results of every such inquiry.

(2) An inquiry under this Part may be either-

   (a)  a prices justification inquiry, that is to say an inquiry as to
        whether the price or prices at which a company or companies (whether a
        declared company or declared companies or not) supplies or supply, or
        proposes or propose to supply, petroleum products or services of a
        particular description is or are justified and, if the Authority is of
        the opinion that the price or any of the prices is not justified, what
        lower price for the supply by the company or companies concerned of
        petroleum products or services of that description would be justified;
        or

   (b)  an inquiry into a matter specified by the Minister in a notice under
        paragraph 17 (1) (b).

(3) The Authority shall conduct such prices justification inquiries as it is
required to conduct by notice given by the Minister under section 17 and may,
with the approval of the Minister, conduct such other prices justification
inquiries as it thinks fit.

(4) The Authority shall conduct such inquiries other than prices justification
inquiries as it is required to conduct by notice given by the Minister under
section 17.

(5) In conducting a prices justification inquiry and making its report on such
an inquiry, the Authority shall have due regard to the need for the company or
companies concerned to achieve a level of profitability that is sufficient to
enable the company or companies to maintain an adequate level of investment
and employment.