ARRANGEMENT OF SECTIONS
1 Short title
3 Establishment of Prices Commission
4 Functions of the Commission
5 Funds and resources of the Commission
6 Accounts and audit
7 Annual reports and estimates
8 Power to control imports, exports, hiring and prices
9 Power to authorise purchase, sale, etc, of goods
10 Supplementary provisions as to orders
11 Grant of import and export licences
12 Delegation of functions
14 Restriction on disclosure of information
15 Power to summon witnesses
16 Duty and privileges of witnesses
17 Penalty for disobedience, disrespect or obstruction
20 Power to amend Second Schedule
THE TRADE ACT
[Date of Commencement: 1st May, 1955]
4 of 1955,
17 of 1956,
34 of 1960,
25 of 1961.
7 of 1962,
28 of 1963,
28 of 1970,
13 of 1976,
18 of 1977,
24 of 1978,
11 of 2009.
This Act may be cited as the Trade Act.
In this Act, unless the context otherwise requires-
"export" means to take, or be concerned in taking out of Jamaica or the territorial waters thereof, and "exportation" shall be construed accordingly;
"functions" includes powers and duties;
[28/1970 s 2(b).]
"goods" includes all kinds of goods, produce, wares, merchandise, substances and animals;
"import" means to bring, or be concerned in bringing, into Jamaica or the territorial waters thereof, and "importation" shall be construed accordingly.
(1) There shall be established for the purposes of this Act a body to be called the Prices Commission (hereafter in this Act referred to as the Commission), which shall be a body corporate to which the provisions of section 28 of the Interpretation Act, shall apply.
[28/1970 s 3.]
(2) The provisions of the First Schedule shall have effect as to the constitution of the Commission and otherwise in relation thereto.
(1) The functions of the Commission shall be-
(a) to carry out such investigations in relation to the prices of goods as the Minister may from time to time require;
(b) to consider any request made to the Minister for the increase of any prices which are controlled under this Act and make recommendations in connection with such request to the Minister;
(c) to investigate allegations of profiteering in relation to the sale of goods of any class or description and make such report and recommendations in connection therewith as it thinks fit to the Minister;
(d) to carry out, on its own initiative, such other investigations in relation to the prices and availability of goods of any class or description as it thinks fit and make such report and recommendations as it thinks fit to the Minister:
[13/1976 s 2(a).]
(e) to collect, compile and analyse information in relation to wages and other conditions of employment in any trade or business.
(2) Subject to the provisions of this Act, the Commission may, for the purpose of exercising or discharging any of its functions under this Act, do anything and enter into any transaction which, in the opinion of the Commission, is necessary to ensure the proper exercise or discharge of its functions (including any function delegated to it under section 12).
(3) The functions of the Commission specified in paragraphs (a), (c) and (d) of subsection (1) may be exercised or discharged in respect of goods referred to in subsection (2) of section 8 as well as in respect of any other goods.
[13/1976 s 2(b).]
The funds and resources of the commission shall consist of-
[28/1970 s 3.]
(a) such moneys as may from time to time be placed at its disposition for the purposes of this Act by Parliament;
(b) all other moneys and other property which may in any manner become payable to, or vested in the Commission in respect of any matter incidental to its functions.
(1) The Commission shall keep proper accounts and other records in relation to its business and shall prepare annually a statement of accounts in a form satisfactory to the Minister, being a form which shall conform with established accounting principles.
[28/1970 s 3.]
(2) The accounts of the Commission shall be audited annually by an auditor or auditors appointed annually by the Commission and approved by the Minister.
(1) The Commission shall, in each year-
(a) on or before the 31st day of July, submit to the Minister a report of its activities during the twelve months ending on the 31st day of March in that year, including a statement of its accounts audited in accordance with the provisions of section 6;
[28/1970 s 3.]
(b) on or before the 30th day of September, submit to the Minister for his approval its estimates of revenue and expenditure for the financial year commencing on the 1st day of April next following.
(2) Copies of reports submitted pursuant to pare graph (a) of subsection (1) together with the annual statement of accounts and auditor's report thereon shall be laid on the Tables of the House of Representatives and of the Senate and shall be published in the Gazette.
(1) Subject to the provisions of subsection (2), the Minister may by order provide for-
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