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Price Control and Anti Profiteering Act 2011.

Country/Territory
Malaysia
Document type
Legislation
Date
2011
Source
FAO, FAOLEX
Subject
General
Keyword
Consumer protection Fraud Internal trade International trade Tax/levy Vending Institution
Geographical area
Asia, Asia and the Pacific, East Asian Seas, South-Eastern Asia
Entry into force notes
This Act enters into force on a date to be appointed by the Minister by notification in the Gazette. The Act has been published in the Gazette on 27 January 2011.
Abstract

This Act consisting of 63 articles aims at (i) controlling the prices of goods and charges for services; and (ii) prohibiting profiteering. Article 3 establishes that the Minister charged with the responsibility for domestic trade and consumer affairs may appoint a Price Controller with the following main powers (i) determine maximum, minimum, or fixed price for the manufacturing, producing, wholesaling, or retailing of prices of goods; (ii) determine the maximum, minimum or fixed charges for services; (iii) determine prices or charges according to the area; (iv) determine the amount of deposit to be returned in respect of the containers. The prices or charges shall include all government taxes, duties, and any other charges (art.8). Any person who offers to sell any price-controlled goods or offers to supply any charge-controlled services shall display a list of the prices or the charges (art.9). Under article 15 is prescribed a mechanism to determine unreasonably high profit. Investigations may be conducted by the Assistant Controller if there are reasonable grounds to suspect that any offense is or will be committed under this Act. The Assistant Controller shall have access at all times, to any places or premises where any business is carried out to collect or monitor the prices of goods or charges for services (art. 28). Article 41 provides for the possibility by the Minister to establish a Price Advisory Council to be advised on the following (i) issues relating to profiteering; and (ii) any other matters relating to the prices of goods and charges for services.

Full text
English
Website
lom.agc.gov.my

References - Legislation

Implemented by

Price Control and Anti-Profiteering (Determination of Maximum Price) (No. 8) Order 2022.

Legislation | Malaysia | 2022

Keyword: Consumer protection, Internal trade, International trade, Vending

Source: FAO, FAOLEX