(1) The Minister shall, from time to time in accordance with this section or section 13, review the national minimum hourly rate of pay.
(2) Where in the opinion of the Minister there is in existence or proposed a relevant agreement ("national economic agreement") among economic and social interests in the State which includes a recommendation in relation to the national minimum hourly rate of pay of employees for the duration of the agreement, the Minister shall, within 3 months after being advised of the recommendation, and taking into account the matters referred to in section 11(4) -
(a) accept or vary the recommendation and declare the national minimum hourly rate of pay under section 11 accordingly or amend the order, or
(b) reject the recommendation.
(3) If the Minister varies or rejects a recommendation under subsection (2), the Minister shall, as soon as practicable, make a statement to the Oireachtas giving his or her reasons for that variation or rejection.