27Inter-retail transaction

27 Inter-retail transaction (1) Subject to this section, a retailer (in this section referred to as the retail buyer) who purchases any declared goods from any other retailer (in this section referred to as the retail seller) shall not sell or offer for sale those goods at a price in excess of the cost to the retail 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 retail buyer may sell or offer for sale goods at a price not greater than the maximum price at which the retail 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 retail buyer. (3) Notwithstanding anything contained in subsection (1), the retail buyer may sell or offer for sale any goods at a price not exceeding the maximum price which, after application by the retail buyer, the Controller declares to him in writing. (4) For the purpose of this section, the retail buyer may request the retail seller of goods to supply him with such information as he deems necessary to enable him to comply with the provisions of this section. (4A) A retail seller of goods who is requested under subsection (4) 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. (5) The Controller may, by order, exempt any person or class of persons from the whole or part of the requirements of this section.

Price Exploitation Prevention Act 22 (6) For the purposes of this section cost means: (a) in relation to any goods (not being goods to or in respect of which an order under subsection (7) applies) – the price paid or payable by the retail buyer to the retail seller, plus any expenses which: (i) were specifically incurred by the retail buyer in placing the goods at the point of delivery by him for a sale by him; and (ii) at the time of the sale or offer for sale by the retail buyer were recorded: (1) on a copy of an invoice for the goods held by the retail buyer; or (2) in the books and accounts of the retail buyer 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 (7) applies – cost as defined in that order. (7) For the purposes of this section the Controller may, by order, define the meaning of the term cost, in relation to: (a) any class of sale specified in the order; (b) any class of goods so specified; or (c) any class of persons so specified.