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Precious Metals Act, 2005 (Act No. 37 of 2005)

9. Issue and renewal of jewellers’ permits

 

 

(1) The Regulator may issue to any person, in the prescribed form and for a period not exceeding five years, a jeweller's permit entitling the holder to do such of the following, as may be specified in the permit, namely—
(a) to buy or receive semi-fabricated precious metal in any form from any person authorised under this Act to sell, deal in or dispose of semi-fabricated precious metals;
(b) to change the form of, or in any other manner add value to, semi-fabricated precious metal in his or her lawful possession; and
(c) to dispose of any semi-fabricated precious metal in his possession.

 

(2) Any person who is refused a jeweller’s permit may, within 30 days after having been notified by the Regulator of the refusal, appeal in the prescribed manner to the Minister who may—
(a) dismiss the appeal;
(b) direct the Regulator to issue such a permit to that person, subject to the succeeding provisions of this section; or
(c) make any other order he or she deems fit.

 

(3) Before the Regulator issues a jeweller’s permit the applicant for the permit must pay the prescribed fee.

 

(4) A jeweller’s permit terminates in accordance with the terms and conditions under which it was issued.

 

(5) A jeweller’s permit does not entitle the holder thereof to acquire unwrought precious metal except under the authority of a special permit contemplated in section 4(1)(e).

 

(6)        

(a) The Regulator may renew a jeweller’s permit for further periods not exceeding five years each upon payment of the prescribed fee if an application for such renewal is made at least 30 days before the expiration of the permit.
(b) Subsection (2) applies with the necessary changes in connection with the refusal by the Regulator of any application in terms of paragraph (a).

 

(7)        Whenever—

(a) any application under subsection (6) for the renewal of a jeweller’s permit is refused by the Regulator and no review or appeal against such refusal is lodged or any review or appeal so lodged is dismissed;
(b) any jeweller’s permit has expired and no application for its renewal has been made by the holder thereof;
(c) any jeweller’s permit has been cancelled under this Act; or
(d) the activities authorised by such permit are discontinued permanently, the person who held the permit must forthwith submit to the Regulator a solemn declaration of the mass of any semi-fabricated precious metal in his or her possession at the date such licence expired or was refused or cancelled or such activities were discontinued, and must dispose of such semi-fabricated precious metal in accordance with this Act within 30 days after the date of such declaration or within such longer period as the Regulator may allow.

 

(8) The holder of a jeweller’s permit must keep proper books of account in accordance with generally accepted accounting practice and must submit such information as may be prescribed to the Regulator annually by not later than 90 days after the end of the financial year of the holder’s business.

 

(9) The holder of a jeweller’s permit may not carry on any activity authorised by the permit elsewhere than on the premises or at the place described on the permit or described in any endorsement of that permit in terms of subsection (10), and the holder may not be in possession of semi-fabricated precious metal at any place elsewhere than on the premises or at the place so described unless he or she is transporting such semi-fabricated precious metal in accordance with section 13.

 

(10)        

(a) If at any time it becomes necessary for the holder of a jeweller’s permit to transfer or extend the activities referred to in subsection (9) to any premises or place not described on his or her permit the Regulator may endorse on the permit the situation of such new or additional premises or place and must forthwith in writing notify the National Commissioner of the endorsement.
(b) An endorsement contemplated in paragraph (a) does not allow the holder of the jeweller’s permit to conduct business from the additional premises or place under a name that differs from the name used on the existing premises or place.
(c) If the holder of the jeweller’s permit wishes to conduct business from any other premises or place under a name that differs from the name used on the existing premises or place, he or she must apply for a new licence in respect of the additional premises or place.

 

(11) The holder of a jeweller’s permit issued in terms of this section must forthwith and in writing advise the Regulator of any unfawful conduct relating to precious metals in which he or she was asked or approached to participate in, or which he or she was asked to facilitate.