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Prices Regulation Act 2008 - Price Control Order No. 1 of 2016

REPUBLIC OF NAURU

PRICES REGULATION ACT
(NO. 9 OF 2008)

Price Control Order No. 1 – 2016
S.L No. 2 of 2016

Notified: 25 February 2016

I, the Honourable David Adeang MP, Minister for Finance, acting with the Secretary for Finance and the approval of Cabinet, under Section 5(3) of the Prices Regulation Act 2008, determine that, from the date this notice is published in the Gazette^[1]:

1. Maximum wholesale price at which diesel may be sold as $1.56/litre
   
2. Maximum wholesale price at which petrol may be sold as $1.57/litre
   
3. Maximum wholesale price at which JetA1 may be sold as $0.91/litre
   
4. Maximum retail price at which diesel may be sold as $1.86/litre
   
5. Maximum retail price at which petrol may be sold as $1.87/litre
   
6. Maximum retail price at which Jet A1 may be sold as $1.21/litre
   

Dated this 26th February 2016

HON DAVID ADEANG, MP
MINISTER FOR FINANCE

1. Under Sections 5(1) of the Prices Regulation Act 2008, the Minister must give 21 days' notice of his intention to make a price order. However, Section 5(3) of the Act allows the Minister to make a price order without giving 21 days' notice if he is satisfied that it is necessary or expedite to act without delay in order to ensure the fair distribution of declared goods amongst all members of the community.

2. A prices order may only be made in relation to goods that are declared goods for the purpose of the Prices Regulation Act 2008. The Minister declared diesel and petrol goods by Gazette Notice No.344/2008, published on 12 September 2008.

^{[1] Gazette No. 24/G.N.No. 121/2016}