S.L. 117.15 Art. 3Fixing of maximum price.

(1) The Director may, from time to time, by order in the

Gazette, fix the maximum price at which any commodity may be sold.

(2) Prices may be so fixed by the Director using any one or more of the following methods -

(a) fixing stated maximum prices;

(b) fixing maximum margins of profit;

(c) fixing maximum percentages of profit.

(3) In the case of orders made in accordance with paragraphs

(b) or (c) of sub-regulation (2) -

(i) the profit of the importer shall be calculated on the aggregate of the C.I.F. value and import duty of the commodity, and no further addition, such as charges for landing, transport, storage, interest or any other charge whatsoever, shall be made for the purpose of ascertaining the cost; and

(ii) the profit of the retailer shall be calculated on the price at which the commodity shall have been purchased from the importer, wholesaler or local manufacturer, without the addition of any charge whatsoever. For the purposes of paragraph (i) of this sub-regulation, where the C.I.F. value is expressed in foreign currency, such value shall be calculated at the rate determined daily by the Central Bank of Malta for the computation of customs duty in accordance with the Import Duties Act, on the date of importation.

(4) In respect of particular parcels or consignments of commodities, the Director may, at his absolute discretion, fix the maximum prices on the certificate of costing submitted by the importer as provided in regulation 21.