EXPLOITATION

Dominion, Volume 12, Issue 64, 10 December 1918, Page 7

EXPLOITATION

' THE LAW AMENDED "REASONABLE PROFIT" DEFINED An amendment to the Trade and Commerco Act, 1911, dealing with exploitation, was introduced by Governor's Message in Parliament \esterday, and'adopted' after brief discussion.- The anioivdment make's the following provisions:— Every person commits an offence against

this section who either as 'principal or agent sells or supplies, or offers for sale or supply, in New Zealand anv goods at a price which is unreasonably high if ■ the opportunity of obtaining such prico in New Zealand arises by reason of t!io existence, present or past, of a war in which Eis Majesty is engaged.or. by reason of a scarcity of .such goods in New Zealand caused, by war conditions present or '.past. For the purposes qf ( tliis section the price of any goods shall be deemed to be unreasonably high if .'it produces 'more than-a fair.and reasonable' rate of commercial profit to the person selling or supplying: or offering. to sell or supply, the goods,, or to his principal. ,A fair, and reasonable rate of commercial profit is for the purposes of this section such rate as would have been fair / and,reasonable on similar goods prior- to August i mi, with a fair and reason-' able addition for war" •• conditions of ■ freight, charges and business expenses. / Every .person commits . an, offence against this section who-being in possession of goods for mercantile purposes hoards and refuses to sell, or, mako avail- ' able for- sale, such goods, if such hoarding: or refusal raises, or tends to. raise, the cast of. other similar-goods to the public. ■ Every person, who'is guilty of. an of- ,. fence against this section is liable on ■summary conviction to a.'penaltv not exceeding in the ease of an individual *20j) and in the case of an incorporated company iiOOO. .