Page:Railways Act 1921 (ukpga 19210055 en).pdf/38

[Ch. 55.] allow, be reported to the Minister; so, however, that a new exceptional rate so granted shall not, without the consent of the rates tribunal, be less than five per cent. or more than forty per cent. below the standard rate chargeable.

(2) If the Minister is of opinion that any company is granting new exceptional rates in such manner as prejudicially to affect any class of users of the railway not benefited by such rates, or so as to jeopardise the realisation of the standard revenue of such company, he may refer the matter to the rates tribunal, who may, after giving all parties interested an opportunity of being heard, take either or both of the following courses:—

(a) revise the standard charges of that company or any of them:

(b) cancel or modify all or any of such exceptional rates.

(3) Any trader may, at any time, apply to the rates tribunal to fix a new exceptional rate.

Variation of exceptional rates.

38.—(1) An amalgamated company or a railway company to which a schedule of standard' charges has been applied shall not be entitled to increase or cancel any exceptional rate which has been fixed by the rates tribunal without first obtaining the sanction of that tribunal.

(2) Any such company may, at any time, reduce any exceptional rate, so,, however, that the rate shall not, without the consent of the rates tribunal, be reduced so as to be more than forty per cent. below the standard rate which would be, chargeable, but any. such reduction shall be reported to the Minister in like manner as if it were the grant of a new exceptional rate.

(3) Any such company may, at any time, increase any exceptional rate which has not been fixed by the rates tribunal on giving thirty days' notice in such manner as the rates tribunal may prescribe of the proposed increase, and on the expiration of such notice may, if no objection be raised by any trader interested, forthwith bring the increased-rate into force, provided that it is not less than five per cent. below the standard rate chargeable, but, if such an objection be raise', or if the rate when increased would be less than five per cent. below the standard rate chargeable, the increase shall not have effect unless and until the rates' tribunal, after giving the company an opportunity of being heard, so determine; 34