This Act may be cited as the Economic Stabilization Act, 1948.

In this Act, unless the context otherwise requires,—

The general purpose of this Act is to promote the economic stability of New Zealand.

The Minister shall be charged with the general administration of this Act.

In addition, the Minister shall be charged with the general function of doing all things that he deems necessary or expedient for the general purpose of this Act, and in particular for the stabilization, control, and adjustment of prices of goods and services, rents, other costs, and rates of wages, salaries, and other incomes.

There shall from time to time be appointed as an officer of the Public Service a Director of Stabilization.

The Director shall have such functions in relation to the administration of this Act as are conferred on him by this Act or by any stabilization regulations or as the Minister from time to time determines.

There is hereby established for the purposes of this Act a Commission, to be known as the Economic Stabilization Commission.

The Commission shall consist of such persons (not exceeding six in number) as the Minister from time to time appoints to be members thereof.

One member of the Commission shall be appointed by the Minister to be the Chairman thereof.

The Chairman and every other member of the Commission shall hold office during the pleasure of the Minister.

The powers of the Commission shall not be affected by any vacancy in the membership thereof.

The Commission shall be deemed to be a Commission under the Commissions of Inquiry Act, 1908, and, subject to the provisions of this Act and of any stabilization regulations, all the provisions of that Act shall apply accordingly.

Subject to the provisions of this Act and of any stabilization regulations, the Commission may regulate its procedure in such manner as it thinks fit.

There may from time to time be appointed as officers of the Public Service a Secretary of the Commission and such other officers as may be required for the purposes of this Act.

The principal function of the Commission shall be to make recommendations to the Minister, after inquiry and investigation, in relation to the economic stabilization of New Zealand and the functions of the Minister under this Act.

In addition to exercising its functions under subsection one of this section, the Commission may exercise administrative functions in respect of any matters referred to it by the Minister for that purpose, and shall have such other functions as are conferred on it by this Act or by any stabilization regulations.

The Governor-General may from time to time, by Order in Council, make such regulations (in this Act referred to as stabilization regulations) as appear to him to be necessary or expedient for the general purpose of this Act and for giving full effect to the provisions of this Act and for the due administration of this Act.

Without limiting the general power hereinbefore conferred, it is hereby declared that regulations may be made under this section for enabling the Minister to exercise his functions under this Act, and, in particular, for all or any of the following purposes:—

Stabilization regulations may empower or provide for empowering such authorities, persons, or classes of persons as may be specified in the regulations to make orders for any of the purposes for which regulations are authorized by this section to be made, and may contain such incidental and supplementary provisions as appear to the Governor-General in Council to be necessary or expedient for the purposes of the regulations.

All regulations made under this Act shall be laid before Parliament within twenty-eight days after the making thereof if Parliament is then in session, and, if not, shall be laid before Parliament within twenty-eight days after the commencement of the next ensuing session.

The regulations specified in the Schedule to this Act (being emergency regulations within the meaning of the Emergency Regulations Act, 1939) shall continue in force as if they had been made under this Act.

The Second Schedule to the Emergency Regulations Continuance Act, 1947, is hereby consequentially amended by omitting all references to any of the regulations specified in the Schedule to this Act.

The publication in the Gazette or in accordance with the Regulations Act, 1936, whether before or after the commencement of this Act, of any stabilization regulations, or of any Order in Council, Proclamation, order, notice, warrant, licence, or other act of authority under this Act or under any stabilization regulations shall for all purposes be deemed to be notice thereof to all persons concerned, and in any prosecution under this Act the liability of the accused shall be determined accordingly.

For the purpose of obtaining any information that may be required for the purposes of this Act or of any stabilization regulations, the Minister or any person authorized by him in writing in that behalf may from time to time—

The Minister may, if he thinks fit, require that any written information or particulars or any copies or extracts furnished under this section shall be verified by statutory declaration or otherwise as the Minister may require.

The Minister or any other person with the authority of the Minister may from time to time, either generally or particularly, delegate any of the powers conferred on him by this Act or by any stabilization regulations, including the power of delegation conferred by this section.

Subject to any general or special directions given by the Minister or other person by whom any powers are delegated as aforesaid, the person to whom any powers are so delegated may exercise those powers in the same manner as if they had been conferred on him directly by this Act and not by delegation.

Every person purporting to act pursuant to any delegation under this section shall be presumed to be acting in accordance with the terms of the delegation in the absence of proof to the contrary.

Any delegation under this section may he made to a specified person or to persons of a specified class, or to the holder or holders for the time being of a specified office or appointment or class of offices or appointments.

The delegation by the Minister or by any other person of any powers conferred on him by or under this Act or by or under any stabilization regulations shall not prevent the personal exercise of those powers by the Minister or by that other person.

Any written notice, direction, approval, requisition, or other instrument, given, granted, or made by the Minister or by any other person authorized in that behalf under this Act or under any stabilization regulations shall be sufficiently authenticated if it is signed by the Minister or authorized person or by any person on behalf of and by direction of the Minister or authorized person, as the case may be.

The Minister or any person authorized in that behalf may give notice to any person of any direction, approval, requisition, or condition given or imposed under this Act or under any stabilization regulations, and every person to whom the notice is given shall be bound thereby.

Except where otherwise specially provided, any notice required to be given to any person for the purposes of this Act or of any stabilization regulations may be given by causing it to be delivered to that person, or to be left at his usual or last known place of abode or business or at the address specified by him in any application, notice, or other document received from him by the Minister or authorized person or to be posted in a letter addressed to him at that place of abode or business or at that address.

If any such notice is sent to any person by registered letter it shall be deemed to have been delivered to him when it would have been delivered in the ordinary course of post, and in proving the delivery it shall be sufficient to prove that the letter was properly addressed and posted.

Every notice under this Act or under any stabilization regulations shall take effect on the date when it is published or given, or on such later date as may be specified in that behalf in the notice.

Any notice given under this Act or under any stabilization regulations may be at any time varied or revoked by a subsequent notice.

Every person commits an offence against this Act who—

Any offence against this Act committed by a servant or agent in the course of his employment shall be deemed to have been also committed by his employer or principal unless the employer or principal proves that the offence was committed without his knowledge and that he exercised all due diligence to prevent the commission of the offence.

Except where otherwise expressly provided, every person who commits an offence against this Act shall be liable on summary conviction,—

Parts II and V of the Economic Stabilization Emergency Regulations 1942, and regulation two of the Economic Stabilization Emergency Regulations 1942, Amendment No. 3, are hereby revoked.

Regulation twenty-two of the Hides Emergency Regulations 1940 (No. 2) is hereby amended by omitting the words “under the Emergency Regulations Act, 1939”.

All orders, approvals, directions, requisitions, conditions, and notices that originated under any of the regulations hereby revoked, and are subsisting or in force at the commencement of this Act, shall enure for the purposes of this Act as fully and effectually as if they had originated under the corresponding provisions of this Act, and accordingly shall, where necessary, be deemed to have so originated.

All matters and proceedings that have been commenced under any such regulation, and are pending or in progress at the commencement of this Act, may be continued and completed under this Act.

Nothing in the foregoing provisions of this section shall affect the liability of any person for any offence committed before the commencement of this Act.