Price Commission Act 1977

20 Further duties to have regard to specified matters and sanction provisions

(1) It shall be the duty of the Secretary of State, in performing any of the functions mentioned in the following subsection, to have regard to all matters which appear to him in the particular circumstances to be relevant with a view to restraining prices of goods and charges for services so far as that appears to him to be consistent with the making of adequate profits by efficient suppliers of goods and services and to have regard in particular to the matters mentioned in section 2(2) of this Act so far as he considers them relevant; but the Secretary of State may disregard the duty imposed on him by the preceding provisions of this subsection if he thinks it right to do so in connection with the sanction provisions.

(2) The functions referred to in the preceding subsection are—

(a) the function of determining whether to give a notice in pursuance of section 4(3) or 5(5) of this Act;

(b) the function of determining whether to make an order in pursuance of section 7 or 12 of this Act and of determining the terms of such an order;

(c) the function of determining whether to accept an undertaking in the exercise of a power conferred on him by either of those sections ;

(d) the function of determining whether to specify a day, and which day to specify, in pursuance of section 7(8)(b) of this Act; and

(e) the function of determining whether to give, vary or cancel a direction in pursuance of section 10 of this Act.

(3) It shall be the duty of the Commission to have regard to the sanction provisions in performing their functions under this Act; and where that duty conflicts with the duty imposed on the Commission by section 2(1) of this Act their duty to have regard to the sanction provisions shall prevail.