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

Precious Metals Regulations

Purchase

Subject to such terms and conditions as may be stipulated on a certificate, the holder of a certificate shall —

(a)	be entitled to acquire or dispose of the unwrought or semi-fabricated precious metal indicated on the certificate, as the case may be;

(b)	keep proper books of accounts in accordance with generally accepted accounting practice and submit a copy of its audited financial statements to the Regulator annually by not later than 90 days after the end of his or her business' financial year; and

(c)	keep a true and correct register of all unwrought and semi-fabricated precious metals deposited, received, dispatched, or otherwise disposed of by the holder of the certificate.

[Paragraph (c) amended by regulation 5(a) of Notice No. R. 387 dated 4 April 2008]

(d)	the certificate is valid for a period not exceeding 3 months from the date of issue by the Regulator.

[Paragraph (d) inserted by regulation 5(b) of Notice No. R. 387 dated 4 April 2008]