35. The National Prices Commission Law, No. 42 of 1975, is hereby amended as follows:-
| (1) in section 8 thereof, by the substitution in subsection(5) of that section for the words "with the Minister and with the concurrence of the Minister in charge of the subject of Finance ", of the words " with the Minister " ; |
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| (2) in section 13 thereof, by the addition immediately after paragraph (c) of that section, of the following new paragraphs :- " (d) to examine and report on any matter in terms of section 24A. ; |
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| (3) by the insertion, immediately after section 13 thereof, of the following new lection which shall have effect as section 13A. :-
| | 13A. In the exercise of its functions under this Law, the Commission shall have special regard to the following matters:-
| | | (a) the protection of the interests of consumers of articles ; |
| (b) the provision of necessary incentives to producers of articles ; |
| (c) the necessity for ensuring reasonable rates of return on capital employed in the production of articles or the provision of services ; |
| (d) the allocation of resources among different sectors of the economy of the country; |
| (e) the efficient operation of public Corporations engaged in the production of articles or the provision of services or in any activity connected with or incidental to the production of articles or the provision of services; |
| (f) the control of inflation ; |
| (g) other objectives of economic and social policy of the Government; and |
| (h) any guidelines that may from time to time be given by the Minister. " ; |
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| (4) in section 18 thereof, by the repeal of subsection (2) of that section, and the substitution therefor of the following subsection,:-
| | " (2) The Commission may give to all persons including representatives of associations of organisations of consumers interested in a matter which forms the subject of an inquiry held under this section an opportunity of being heard and of producing such evidence, oral or documentary, as in the opinion of the Commission is relevant to such matter." ; | | |
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| (5) in section 23 thereof-
| | (a) by the substitution in subsection (1) of that section for the words "specified in such reference " of the words : | | |
| | (b) by the substitution, for the proviso to subsection (2) of that section, of the following proviso:- | | |
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| (6) in section 24 thereof, by the addition immediately after subsection (1) of that section, of the following subsection:- |
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| (7) by the insertion, immediately after section 24 thereof, of the following new section Which shall have effect as section 24A :-
| | 24A. The Commission may, either of its own motion or on representations made to it by any
person or body of persons, review any question relating to the price of any article or the charge for any service and report to any Minister within such period as the Commission may consider reasonable." | | |
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| (8) in section 33 thereof, by the Commission of the definition of "relevant agency" and the substitution therefor of the following new definition :- |
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Sri Lanka Consolidated Acts