Imposition of Duties (Dumping and Subsidies) Act, 1968

Fair market price.

3.—(1) The fair market price of goods in any country shall be determined by the Commission and, subject to subsection (2) of this section, the fair market price of goods in any country shall, where those or comparable goods are sold in that country in the ordinary course of trade for consumption or use in that country, be the price at which they are so sold, subject to such adjustments for differences in conditions or terms of sale, taxation or any other matter as may be necessary to ensure that the export price and the fair market price of the goods are the prices of the goods under two similar contracts of sale.

(2) The fair market price of goods in any country shall, in cases where subsection (1) of this section does not apply or the Commission is unable to ascertain the facts from which to determine the fair market price under that subsection, be such price as the Commission shall determine by reference to any price obtained for goods of the same kind or similar goods exported from that country, with such adjustments of the kind specified in subsection (1) of this section as may appear to it to be proper or, if the Commission thinks fit, by reference to the cost or estimated cost of production of goods of the same kind or similar goods, with such adjustments of the kind aforesaid as may appear to it to be proper.

(3) No adjustment shall be made under this section in respect of restrictions or charges on the export of materials from any country so as to favour manufacturers in that country who use those materials in goods produced by them.