18. Increase of retail or wholesale price of certain goods and certain services

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

Where the Minister is of opinion that any goods or any service is essential to the life of the community or part thereof, the Minister in consultation with the Authority may by Order published in the Gazette prescribe such goods or such service as specified goods or specified service as the case may be.

(2)

No manufacturer or trader shall increase the retail or wholesale price of any goods or any service specified under subsection (1), except with the prior written approval of the

Authority.

(3)

A manufacturer or trader who seeks to obtain the approval of the Authority under subsection (2), shall make an application in that behalf to the Authority, and the Authority shall, after holding such inquiry as it may consider appropriate :—

(a)

approve such increase where it is satisfied that the increase is reasonable ; or

(b)

approve any other increase as the Authority may consider reasonable, and inform the manufacturer or trader of its decision within thirty days of the receipt of such application.

(4)

Where the Authority fails to give a decision within thirty days of the receipt of an application as required under subsection (3), the manufacturer or trader who made the application shall be entitled to, notwithstanding the provisions of subsection (1), increase the price :

Provided however, where the delay in giving its decision within the stipulated period was due to the failure of the manufacturer or trader to give any assistance required by the

Authority in carrying out its inquiry into the application, the

Authority shall have the power to make an interim order preventing the said manufacturer or trader from increasing the price, until the Authority makes its decision on the application.

Read on from s 19

Part III

Promotion of Competition and Consumer Interest

Read on from Part III

Part IV

Consumer Affairs Council

Read on from Part IV

Part V

Fund of the Authority

Read on from Part V

Part VI

Staff of the Authority

Read on from Part VI

Part VII

General

Read on from Part VII