Hornbill Unleashed

July 27, 2017

Price control, anti-profiteering bill tabled for first reading

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

barang-kawalanThe Price Control and Anti-Profiteering (Amendment) Bill 2017, aimed at promoting transparency in the display, advertisement, publication or quotation of prices and charges, was tabled for the first reading in the Dewan Rakyat yesterday.

The bill, tabled by Deputy Minister of Domestic Trade, Co-operatives and Consumerism Henry Sum Agong, among others, includes a new section that seeks to require any party to display goods or services offered, to display all government taxes and other additional charges.

The amendment also seeks to empower the authority to direct any person who supplies or offers to supply any goods or services to provide relevant documents or information containing the charges imposed by the person.

The bill also provides that any corporate body that violates the provisions of the new section shall be liable to a fine of up to RM100,000, while for second or subsequent offences, a fine of up to RM250,000.

For individuals who contravene the regulations, they shall be liable to a fine of up to RM50,000 or imprisonment for up to two years and for the second or subsequent offences, a fine of up to RM100,000 or imprisonment for up to five years, or both, if convicted.

Henry had also tabled the Trade Descriptions (Amendment) Bill 2017 for the first reading yesterday, aimed at requiring persons registered under the Goods and Services Tax Act 2014 to comply with the guidelines that have been issued in relation to the display of price tags.

Source : FMT Online by Bernama



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