Sri Lanka Consolidated Acts

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Control Of Prices (Amendment) Law (No. 21 of 1975) - Sect 2

Amendment of section 4 of Chapter 173

2. Section 4 of the Control of Prices Act, as amended by Act No. 23 of 1962, is hereby further amended in subsection (1) of that section as follows:
(1) by the substitution, for paragraph (a) of that subsection, of the following paragraph: -
"(a) fix the maximum price (ex-factory, wholesale and retail) above which that article shall not be sold;"
(2) by the relettering of paragraph (b) of that subsection as paragraph (c) thereof; and
(3) by the insertion, immediately after paragraph
(a) of that subsection, of the following new paragraph: -
(b)
(i) set out the price structure according to which the maximum price (ex-factory, wholesale and retail) of that article shall be fixed by the manufacturer or importer;
(ii) set out the manner in which such manufacturer or importer shall make known to the public the maximum price so fixed; and
(iii) specify that the price so fixed shall be the maximum price above which that article shall not be sold; and"


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