| a) |
accepts consideration from a person in exchange for a prepaid certificate, card, credit, voucher or similar device; and |
| b) |
expressly or implicitly agrees to provide goods or services to any person who subsequently presents that certificate, card, credit, voucher or similar device, up to the value represented by it, |
but does not apply with respect to such a device, or the value represented by it, after all of the value of the device has been exchanged for goods, services or future access to services.
| 2) |
A prepaid certificate, card, credit, voucher or similar device contemplated in subsection (1) does not expire until the earlier of — |
| a) |
the date on which its full value has been redeemed in exchange for goods or services or future access to services; or |
| b) |
three years after the date on which it was issued, or at the end of a longer or extended period agreed by the supplier at any time. |
| 3) |
Any consideration paid by a consumer to a supplier in exchange for a prepaid certificate, card, credit, voucher or similar device contemplated in subsection (1) is the property of the bearer of that certificate, card, credit, voucher or similar device to the extent that the supplier has not redeemed it in exchange for goods or services, or future access to services. |
Transfer Duty Act, 1949
