PRICE CONTROL ACT

Section 18: Interpretation.

1977Section 18 of 19Federal Republic of Nigeria

(1)
In this Act, unless the context otherwise requires-
"Board" means the Price Control Board established by this Act;
"Committee" means a Price Control Committee established by this Act and "the Committee" in relation to a State, means the Committee so established for that State;
"controlled commodity" means any goods specified in the First Schedule to this Act or any class of any such goods;
"controlled price" in relation to a controlled commodity, means the controlled price, wholesale or retail, fixed in accordance with section 5 of this Act;
"court" means a special division of the High Court of a State constituted pursuant to section 15 of this Act;
"inspector" means any inspector, however designated, who is an inspector by virtue of section 9 of this Act and includes the Chief Price Controller and a State Price Controller but does not include any person appointed to any grade below that of assistant price inspector;
"Minister" means the Minister responsible for Trade and Tourism;
"premises" includes premises which consist of part of larger premises.
(2) In this Act, the reference, in relation to any commodity, to-
(a) a major distributor of that commodity is a reference to a seller of that commodity who obtains his stock of the commodity directly from the manufacturer or importer of that commodity;
(b) a wholesaler of that commodity is a reference to any seller of that commodity engaged whether exclusively or not, in the selling of that commodity in quantities other than those in which the commodity is ultimately normally sold to the consumer or user of the commodity; and
(c) a retailer of that commodity is a reference to the seller of that commodity who is neither a major distributor nor a wholesaler.

Cite this section

Section 18, PRICE CONTROL ACT (1977).

https://repo.podus.ai/laws/price-control-act/section/18/