PETROL PRICE FIXATION

Taranaki Daily News, 18 December 1933, Page 4

PETROL PRICE FIXATION

MAXIMUM AND THE MINIMUM

PROVISIONS OF LEGISLATION.

METHODS OF DECLARING PRICE.

ALLOWANCES MADE FOR COS’J’S.

By Telegraph—Press Association. Wellington, Last Night Provision for the issue of an Order-in-Council, fixing maximum and minimum prices for the sale of motor spirits is contained in the Motor Spirits (regulation of prices) Bill, which was introduced in the House of Representatives on Saturday. , ~ In fixing prices due regard is fo be paid to the fair market value of the commodity in the countries of origin and to the costs involved in connection with importation, insurance, storage, sale and distribution. . ■ Different maximum ’and minimum prices may be fixed according to differing forms, modes, conditions or localities of sale or supply. For the purpose of giving effect to the Bill the Governor-General may make regulations (a) prescribing matters to be included in accounts or other records kept by persons engaged in importing, selling, purchasing or distributing motor spirits and prescribing forms in which accounts and records are to be kept; (b) prescribing all other matters as may be considered necessary. Heavy penalties ’ are fixed for offences under the Bill.