S.L. 406.1 Art. 18Change in prices.

(1) Subject to the other provisions of these regulations, an application for a refund in accordance with these regulations shall be accepted in full on the condition that the applicant will make a change in the prices, if such a change is necessary, which shall be fairly commensurate with such a refund, otherwise chargeable by him on and after 1 January, 1999, for the sale of goods in respect of which the refund is claimed.

(2) Where an applicant was required to make a change in the prices and such change was not fairly commensurate with the amount of refund claimed in the application for refund, the amount of refund claimed shall be deducted by the applicable percentage as shown hereunder:

(a) where the difference between the actual change and the expected change does not exceed twenty-five per cent of the expected change, by the actual resulting percentage;

(b) where the difference between the actual change and the expected change exceeds twenty-five per cent but does not exceed one hundred per cent of the expected change, by thirty per cent;

(c) where the difference between the actual change and the expected change exceeds one hundred per cent of the expected change, by thirty-five per cent: Provided that the Commissioner may adjust the applicable percentage to be deducted to reflect the changes expected to be made in respect of the class of economic activity of applicants.