Price Control And Anti Profiteering Act 2011 Act 723

The government recently enacted the price control and anti profiteering act 2011 act which came into force on 1 april 2011.

Price control and anti profiteering act 2011 act 723. This regulations revokes the earlier price control and anti profiteering mechanism to determine unreasonably high profit for goods net. 3rd march 1950 short title. The government recently enacted the price control and anti profiteering act 2011 ct which came into force on 1 april 2011. Act 723 price control and anti profiteering act 2011 an act to control prices of goods and charges for services and to prohibit profiteering and to provide for matters connected therewith or incidental thereto.

Starting from 1 st january 2017 the ministry of domestic trade and consumer affairs has enforced the price control and anti profiteering mechanism to determine unreasonably high profit for goods regulations 2016 to act upon the profiteering activity. The purpose of the act is to enable the government to determine prices of goods or charges for services with the object of curbing excessive profiteering of essential goods and services by unscrupulous traders. This new ceiling price will be enforced through the price control and anti profiteering act 2011 he said in a statement here today. Part i preliminary short title and commencement 1.

The measure will be executed through the price control and anti profiteering act 2011 act 723 in the public and private sectors to ensure that treatment costs in private hospitals do not increase arbitrarily. Nanta also announced that single ply masks may be sold for a maximum of 7 sen each while two ply and n95 masks could retail for 20 sen and rm6 respectively. Ordinance 6 of 1950 revised edition 1985 30th march 1987 an act to provide for the control of prices. Price control act chapter 244 original enactment.

This act may be cited as the price control act. The competition act 2010 and the price control and anti profiteering acts 2010 will completely change the way business is conducted in malaysia if fully implemented as expected by next year as they help pave the way for greater innovation and service to consumers at competitive prices. Price control and anti profiteering laws of malaysia act 723 price control and anti profiteering act 2011. Yusoff 802293 a thesis submitted to the ghazali shafie graduate school of law.

The purpose of the act is to enable the government to determine prices of goods or charges for services with the object of curbing excessive profiteering of essential goods and services by unscrupulous traders.