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Price Commission Act 1977

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9Safeguard for basic profits

(1)It shall be the duty of the Secretary of State to make regulations, by reference to such matters as he thinks fit, as to the profits as defined by the regulations—

(a)which are relevant for the purposes of paragraph (b) of section 4(5) of this Act and that paragraph as applied by section 5(4) of this Act; and

(b)which persons are not to be prevented from earning by virtue of any provision of section 7 of this Act;

and regulations in pursuance of this subsection may make different provision for different circumstances and contain such supplementary provisions as the Secretary of State considers appropriate.

(2)Where the Secretary of State proposes to make regulations in pursuance of the preceding subsection it shall be his duty, before he makes the regulations, to consult the Commission and such representatives of persons as are mentioned in section 2(4)(a) of the 1973 Act about the proposal.

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