AGAINST MONOPOLIES

Hokitika Guardian, 20 October 1922, Page 1

AGAINST MONOPOLIES

STRINGENT PROPOSALS IN N.S.W SYDNEY, Oct. 12

Labour supporters in Now South Wales have boon making a great outcry against the expressed intention of the Government to repeal the Profiteering Act, a measure of the late Labour Government intended to save the workers from the operation of unduly high prices. Tt was contended that, the repeal of the Act would leave the workers at the mercy of profiteers. Tlio Nationalist Government, however. now proposes to go even further than its predecessors in this matter, and while doing away with tell Profiteering Act. it will introduce legislation of a kind previously unknown in New South Wales, for the repression of harmful monopolies and restraints of trade. The new Bill provides that any person is guilty of an offence who monopolises or attempts to monopolise, or combines or conspires with any other person to monopolise the production or manufacture of, or the trade or commerce in anv commodity or article of commerce, or the supply of any services. Every contract made or entered into contravention of this provision shall he illegal and void. A penalty of CSOO ie provided for an offence under the Act, and a second offence shall he indictable, with a penalty of CSOO, or 12 months’ imprisonment. In the ease of a corporation, tin* fine for a first offence is £SOO, and for a second offence £IOOO. Provision is made for a Supreme Court injunction to prevent a harmful monopoly or “arrangement” from continuing its operations. The penalty is a fine up to €SOO a day for each dav during which the offence continues. Anybody injured by a monopoly or trade arrangement may sue for damages and recover treble damages.