Price Control and Anti-Profiteering Act 2011 · s 15

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s 15Mechanism to determine unreasonably high profit

(1)

The Minister shall prescribe the mechanism to determine that profit is unreasonably high and different types of mechanism may be prescribed to cater for different conditions and circumstances as the Minister deems fit.

(1a)

The mechanism to determine that profit is unreasonably high referred to in subsection (1) includes the Minister determining a certain period during which there shall be no increase in the net profit margin of any goods or services.

Price Control and Anti-Profiteering 15

(2)

In formulating the mechanism under subsection (1), the

Minister may take into consideration the following matters:

(a)

any tax imposition;

(b)

the supplier’s cost;

(ba)

any cost incurred in the course or furtherance of business;

(c)

supply and demand conditions;

(d)

the conditions and circumstances of geographical or product market; or

(e)

any other relevant matters in relation to the prices of goods or charges for services.