1.    The Ministry of Business and Trade is the sole competent authority (the competent department at the Ministry) to fix prices, to set profit limits, and to monitor the same as indicated by the provisions of this Law.

2.    The Minister of Business and Trade may, by its own decision, set the limit for the following:

 

 

a.    Prices of goods manufactured locally or imported from abroad.

b.    The amount of the permissible profit limit for owners of factories, importers and retailers with respect to any commodity manufactured locally or imported from abroad, where the Ministry deems such net profit exceeds the ordinary limit.

c.    Prices of meals, food and beverages in cafes, restaurants, hotels, buffets and other public shops that sell meals, food and beverages.

d.    Rates of rooms in hotels and similar places intended to accommodate the public.

e.    Rates and prices of businesses and services provided by craftsmen and the like.

The Minister of Business and Trade may take the following measures:

 

1.    Setting the amounts of any commodity or item that may be purchased or owned or possessed.

2.    Asking manufacturers and importers to hand over certain amounts of any commodity or items to cooperative societies to offer such commodity or items for sale.

3.    Formation by a decision which shall be published in the Official Gazette of one or more committees to set the maximum prices of certain goods, services, wages and profit ratios referred to in the preceding article.

4.    Asking shopkeepers and similar public industries to obtain a license from the competent department of the Ministry to promote the sale of goods and services by any of the following means:

 

a.    All methods of sale at reduced prices.

b.    Drawing of prizes or distribution of gifts.

c.    Advertisements that aim at promoting goods and services.

 

By a decision of the Council of Ministers upon the proposal of the Minister of Business and Trade, fees may be imposed on the licenses issued by the Ministry.

 

The Minister of Economy and Commerce may oblige, by decisions:

 

1.     Owners of hotels, restaurants, cafes, buffets and other public shops designated for the sale of meals, foods and beverages, to declare selling prices in these places.

2.     Hoteliers and similar places designated to accommodate the public to declare accommodation rates.

3.     Retailers and street vendors to declare the prices of whatever they offering for sale.

4.     Artisans and the like to declare the prices of services and businesses they render.

 

The Minister of Business and Trade may instruct the owners of factories and shops to provide data on the cost of production or import of any goods it designates by a decision, enclosed with a table stating the elements of the costs related to industry or trade. He may also instruct them to provide samples of the goods that they produce or import.

The decisions to fix prices and set profits shall apply to goods that are delivered after the date of this Law in order to implement the commitments entered into prior to that date.

1. Any person who is convicted of: a. Selling a fixed-price or specified-profit commodity, or displaying it for sale at a price or profit over the fixed price or profits, or declining to sell it at that price or profit, or imposing on the buyer to purchase additional items on conditions of sale contrary to the customary commercial practice; b. Providing food and beverages at a price higher than the specified price or declining to provide them at this price; c. Renting out rooms at rates above the limit; d. Overcharging craftsmen and the like, in wages or prices, for the services or work they provide; e. Violating the provisions of Articles 2, 3 and 4 of this Law; shall be sentenced to imprisonment for a term not less than one month and not exceeding one year or a fine of not less than one thousand (1000) riyals and not more than ten thousand (10,000) riyals, or to both. 2. A judgment may be issued to close the shop for a period not exceeding one month, and in all cases the items that are the subject of the offense may be proved and confiscated. Where the offences are repeated, the minimum and maximum sentence shall be doubled and the judgment on closure shall be mandatory.

1.    Any person who buys, with the intent of trafficking:

 

a.    A commodity at a price above the price set in accordance with Article 1 (1);

b.    A commodity at a profit above the profit set in accordance with Article 1 (2);

 

shall be sentenced in accordance with Article 6 of this Law.

 

2.    The buyer’s responsibility shall be terminated where the seller proves in the bill of sale that he sold his goods in accordance with the prescribed profit or verified that the bill of sale does not show a statement of a placebo or false commercial name and does not provide evidence that the buyer had knowledge of the seller’s illegally obtained profits.

 

1.    Any person convicted of buying a commodity for consumption at a price over the prescribed limit shall be sentenced to a fine not exceeding three hundred (300) riyals.

2.    The buyer shall not be liable for punishment where he informed the competent authorities of the offense.

 

A shop owner shall be responsible with his manager or the person in charge for any violation of the provisions of this Law, and shall be punished by the prescribed penalties. Where it is proved that, because of the absence or impossibility of proper supervision, he was unable to prevent the occurrence of the violation, the penalty shall be limited to the fine prescribed in Article 6 of this Law.

The employees of the Pricing and Consumer Protection Division of the Ministry of Business and Trade, who are delegated by a decision of the Minster of Business and trade, each within his jurisdiction, have the capacity of law enforcement officers, to prove the offenses committed in violation of the provisions of this Law.

They may also have access to factories, shops, stores and any place allocated for the manufacture or sale or storage of the commodities or goods provided for in this Law, or allocated for the delivery of the services and works provided for herein. They may inspect, search and check on commercial documents, registers, books and any papers relevant to the monitoring of the implementation of the provisions of this Law.

They may also inspect any place suspected as storage. If, however, the place is occupied, a search warrant from a judge shall be obtained before entering therein. Shall apply to such inspection the provisions set forth in the Criminal Procedure Law No. 15 of 1971.

Shall be punished by the penalties stipulated in Article 6 whoever prevents entry of the employees mentioned or refrains from surrendering goods, or books or records, or documents, or submits incorrect data.