The Consumer Protection Act will be one step closer to becoming law in the British Virgin Islands, as the Bill is scheduled to have its second and third readings in the Eighth Sitting of the Second Session of the Fourth House of Assembly that commences today, May 28.
During these stages of the proceedings, legislators will fully debate the Bill then carefully examine its contents which are subject to amendments. It may then be accepted or rejected by means of a vote.
The advancement of the Bill through the House comes days before the start of the 2020 Atlantic Hurricane Season.
The legislation has been highly anticipated, particularly in light of the practice of price gouging which is known to happen following a natural disaster such as a hurricane.
Free-priced market economy
The Consumer Protection Act is expected to explicitly establish the rights of both the consumer and the business to create a ‘free-priced market economy’.
Premier Andrew Fahie, in the meantime, has said the rising population of the territory and the inflation concerns were some key factors that were taken into consideration when the Bill was drafted.
The legislation, therefore, seeks to protect consumers from inflated prices on goods and services and, among other things, protect consumers from distributors selling expired goods.
Copyright 2020 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.