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Price Control Act - Price Control Order

TUVALU

PRICE CONTROL ORDER

2008 Revised Edition
CAP. 40.40.1 Order 1

MADE UNDER SECTION 6(1) OF THE PRICE CONTROL ACT

Commencement [20th October 2008]

1 Citation

This order may be cited as the Price Control Order 2008.

2 Previous Price Control Orders

This Order repeals and replaces all previous Price Control Orders.

3 Maximum retail selling price

(1) Subject to paragraph 2 of this order the maximum retail selling price of all commodities specified in the Schedule (excluding item 19) to the Price Control Act shall be determined by retailers in accordance with the following formula:

(i) Cost of Commodity .........................

Overseas Charges

(ii) F.O.B.

(iii) Freight

(iv) Insurance

Total Overseas Charges .........................

Plus Local Charges

(v) Bank Charges/Documentation

(vi) Import Duty

(vii) Sales Tax

(viii) Wharfage

(ix) Internal Freight and Cartage

(x) Internal Insurance (not to exceed

1% of total overseas charges)

Total Local Charges .........................

Total Charges .........................

(xiv) Mark up not to exceed limit

prescribed in subsection (2) .........................

Maximum Retail Selling Price .........................

(2)

(a) Where a retailer buys a commodity specified in the Schedule to the Price Control Act numbered 1, 2, 3, 4, and 14, the retail price of the commodity shall not exceed 15% of the cost of the commodity to the retailer and the total charges on the commodity.

(b) Where a retailer buys a commodity specified in the Schedule to the Price Control Act numbered 11, 12, 13, 15, 16, and 17, the retail price of the commodity shall not exceed 25% of the cost of the commodity to the retailer and the total charges on the commodity.

ENDNOTES
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¹ L.N. 10/2008