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Incomes and Pricing Commission Amendment Bill, 2010
November 05, 2010
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INCOMES AND PRICING COMMISSION AMENDMENT BILL, 2010
purpose of this Bill is to amend the National Incomes and Pricing
Commission Act [Chapter 14:32] to provide for the establishment
and the composition of a National Incomes and Pricing Board. The
Bill also seeks to repeal the institution of inspectors and reintroduce
them in the Control of Goods Act [Chapter 14:05].
Clause 1 sets out the short title.
Clause 2 provides for the amendment to section 2 of the National
Incomes and Pricing Commission Act [Chapter 14:32] which defines
"Commission". This amendment seeks to repeal the definition
of "Commission" and substitute it with "Board".
This clause also seeks to repeal the definition of "Commissioner"
and substitute it with that of "member".
Clause 3 and 4 provide for the establishment of the National Incomes
and Pricing Board and its composition.
Clause 5 provides for the repeal of section 5(c) which provides
for the powers of the Commission to approve price adjustments of
price monitored goods and prices and industry mark-ups.
Clause 6 provides for the repeal of Part IVA of the National Incomes
and Pricing Commission Act [Chapter 14:32] which provides for the
Control of Incomes and service charges.
Clause 7 provides for the chairpersons' power to obtain information
that will assist the Board in the exercise of its functions.
Clause 10 provides for the amendment to the Control of Goods Act
[Chapter 14:05] and Control of Goods (Price Control) Regulations,
2001 published in Statutory Instrument 334 of 2001 which deals with
price controls. The Control of Goods Act is amended to the extent
that the definition of "Commission" is repealed and is
substituted with that of "Board". The Statutory Instrument
is amended in section 2 by the insertion of the definition of "Inspectors".
It is also amended by the insertion of a new section 30 which provides
for the appointment of these inspectors.
The Schedule provides for the minor amendments.
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