Profiteering investigation
[ PA Aucklandl I, Illegal profiteering by.six• pig companies is being in-[ ' vestigated by the Trade and[ i Industry Department in) • Auckland, At least one case is before; .the Crown Solicitor for ah decision on whether to prosal ecute. In another case, a South i Auckland company which : exceeded its maximum profit ceiling by $230,000, has been t given a choice: refund the money to customers or ab- : sorb an equivalent loss over the next financial year. A senior departmental ]
i official confirmed yesterday • that six companies in the Auckland province were I under investigation for [breaches of the Stabilisation • of Prices Regulations, 1974. I The breaches related speIcifically to part one of the [act, covering excessive proI fit earnings. Firms with sales exceeding SI,SM a year are obliged to report their max-, iraum profit ceiling performance to the department. The official said that most investigations arose either through monitoring the returns or as a result of complaints about price charges.
The department had not yet encountered any misleading returns, and there was provision in the act to disallow items charged unreasonably against profit.
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Bibliographic details
Press, 4 November 1978, Page 3
Word Count
185Profiteering investigation Press, 4 November 1978, Page 3
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