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Contents

Part II · Countervailing Duties

71. Price undertakings

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

The Director-General may suspend an investigation under this Part of this Act, without the imposition of provisional measures, on receipt of satisfactory voluntary undertakings from the government granting the subsidy or the exporter concerned, that —

(a)

the government granting the subsidy agrees to eliminate or limit the subsidy or take other measures concerning its effects; or

(b)

the exporter concerned agrees to revise its prices so that the injurious effects caused by the granting of that subsidy is eliminated.

(2)

Any price increases imposed as a result of an undertaking given under paragraph (b) of subsection (1), shall not be higher than necessary to eliminate the amount of the subsidy and preferably be less than the amount of the subsidy, if such price increase imposed is adequate to remove the injury caused to the Sri Lankan industry.

(3)

Price undertakings for the purpose of subsection (1)

may be suggested by the Director-General, but, the exporter concerned shall not be forced to enter into such undertakings.

(4)

The fact that exporter concerned does not offer any price undertakings or does not accept an invitation to do so, shall in no way prejudice the consideration of the case, but the Director-General shall be free to determine that a threat of injury to the Sri Lankan industry is more likely to be realized, if the subsidized imports continue.

Read on from s 72

Part III

General

Read on from Part III

Schedules