17Functions of the Commission under this Act

##### 17 Functions of the Commission under this Act (1) The functions of the Commission are: (a) to consider notices given to the Commission under paragraph 22(2)(a) and to take in relation to such notices such action in accordance with this Part as it considers appropriate; and (b) to hold inquiries in accordance with this Part into matters relating to prices for the supply of goods or services (except the supply of goods or services by a State or Territory authority), and to report to the Minister the results of each such inquiry; and (c) to monitor prices, costs and profits in any industry or business that the Minister directs the Commission to monitor, and to report to the Minister the results of the monitoring. (2) The Commission shall hold such inquiries as it is required to hold by instrument given by the Minister under section 18 and may, with the approval of the Minister under section 18, hold such other inquiries as it thinks fit. (3) In exercising its powers and performing its functions under this Act, the Commission shall, subject to any directions under section 20, have particular regard to: (a) the need to maintain investment and employment, including the influence of profitability on investment and employment; (b) the need to discourage a person who is in a position substantially to influence a market for goods or services from taking advantage of that power in setting prices; and (c) the need to discourage cost increases arising from increases in wages and changes in conditions of employment inconsistent with principles established by relevant industrial tribunals. (4) Paragraphs 13(2)(b) and 14(2)(b) and section 17, of the Trade Practices Act 1974 apply in relation to the disclosure of interests in matters before the Commission under this Act. (5) Subsections 8A(4) and (5) and sections 16, 18 and 19 of the Trade Practices Act 1974 apply in relation to the Commission’s powers and functions under this Act in the same way as they apply to the Commission’s powers and functions under that Act.