Rates of wages and hours and conditions of work to be applied

The contractor shall pay rates of wages and observe hours and conditions of labour not less favourable than those established, in the trade or industry in the district where the work is carried out, by agreement, machinery of negotiation or arbitration to which the parties are organisations of employers and trade unions representative respectively of substantial proportions of employers and workers engaged in the trade or industry in the district, the “established rates and conditions”, or, failing such established rates and conditions in the trade or industry in the district, established rates and conditions in other districts where the trade or industry is carried on under similar general circumstances.