Print View

[Section Index]

The Petroleum Products (Development Surcharge) Ordinance, 1961

( Ordinance NO. XXV Of 1961 )

2. In this Ordinance, unless there is anything repugnant in the subject or context,-
(1) “Company” means a company specified in the Second Schedule;
(2) “Development surcharge” means the surcharge payable under section 3;
(3) “Differential margin” means the amount by which the fixed sale price exceeds the prescribed price;
(4) “ Fixed sale price” means the ex-Installation sale price as in force on the thirty-first day of July, 1959, or the price, if any, approved by the Government;
(5) “Petroleum Product” means any petroleum product specified in the First Schedule; and
(6) “Prescribed price” means the ex-Installation price as determined in accordance with the rules made under section 6.

Copyright © 2019, Legislative and Parliamentary Affairs Division
Ministry of Law, Justice and Parliamentary Affairs