Price Exploitation Prevention Act 1949

(1) Subject to this section, a wholesaler (in this section referred to as the buyer) who purchases any declared goods from any other wholesaler (in this section referred to as the seller) shall not sell or offer for sale those goods at a price in excess of the cost to the buyer.

Maximum penalty: If the offender is a natural person – 100 penalty units.

If the offender is a body corporate – 500 penalty units.

(2) The buyer may sell or offer for sale any such goods at a price not greater than the maximum price at which the seller was entitled to sell them in similar quantities at the time of sale, and the onus of ascertaining that maximum price shall be upon the buyer.

(3) A wholesaler who purchases any declared goods from a retailer shall not sell or offer for sale those goods at a price in excess of the cost to the retailer.

Maximum penalty: If the offender is a natural person – 100 penalty units.

If the offender is a body corporate – 500 penalty units.

(3A) The onus of finding out the cost of goods to the retailer is on the wholesaler.

(4) Notwithstanding anything contained in subsection (1), the buyer may sell or offer for sale any goods at a price not exceeding the maximum price which, after application by the buyer, the Controller declares to him in writing.

(5) For the purposes of this section, the buyer may request the seller of goods to supply him with such information as he deems necessary to enable him to comply with the provisions of this section.

(5A) A seller of goods who is requested under subsection (5) by a buyer of the goods to supply information to the seller must, as soon as reasonably practicable, supply the information in writing to the buyer.

Maximum penalty: If the offender is a natural person – 100 penalty units.

If the offender is a body corporate – 500 penalty units.

(6) The Controller may, by order, exempt any person or class of persons from the whole or part of the requirements of this section.

(7) In this section, wholesaler, in respect of any goods, means a person who purchases those goods and sells or supplies them for resale or for manufacture for sale.

(a) in relation to any goods (not being goods to or in respect of which an order under subsection (9) applies) – the price paid or payable by the wholesaler who purchased the goods (in this definition referred to as the purchaser) to the wholesaler or retailer from whom he purchased them, plus any expenses which:

(i) were specifically incurred by the purchaser in placing the goods at the point of delivery by him for the purposes of a sale by him; and

(ii) at the time of the sale or offer for sale by the purchaser, were recorded:

(1) on a copy of an invoice for the goods which is held by the purchaser; or

(2) in the books and accounts of the purchaser in such a manner that they can be readily identified and clearly associated with the goods; or

(b) in relation to any goods to or in respect of which an order under subsection (9) applies – cost as defined in that order.

(9) For the purposes of this section the Controller may, by order, define the meaning of the term cost, in relation to: