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It has been contended by learned Government Advocate that under Section 3(3B)(ii) of the Act, the price is to be determined 'having regard to' the price prevailing or likely to prevail during the post-harvest period. Discretion has been vested in Government by the Act to determine the price and it is not Parliament's intention that the person holding the stock of the foodgrain be paid either the prevailing market price or the price which was likely to prevail in the post-harvest period. A duty has been cast by the Act on the appropriate authority to determine the price and for determining the same, the guideline indicated is the prevailing price or the price to prevail in the post-harvest period. The phrase "having regard to" came to be interpreted by the Privy Council in the case of Ryots of Garabandho v. Zamindar of Parlakimedi, AIR 1943 PC 164. It was observed that when some statutory power is to be exercised having regard to certain specified provisions, it only means that those matters must be taken into consideration, for the statutory authority is not strictly bound by such provisions even if none of such provisions is worded in a negative form and an exercise of power does not become invalid or in excess of jurisdiction if those provisions are not strictly followed. In the case of Saraswati Industrial Syndicate Ltd. v. Union of India, AIR 1975 SC 460, the Supreme Court came to deal with this phrase and stated:--