KINGSTON:

Cabinet has approved amendments to the Metal and Jewellery (Control of Second-Hand) Act to increase penalties and application fees for licences under the act.

Speaking at a post-Cabinet press briefing on Wednesday, March 16, minister with responsibility for information, telecommunications and special projects, Daryl Vaz, said the current upsurge in the cash-for-gold trade has resulted in the need for an amendment to effect an improved licensing and enforcement regime.

"Presently, the monetary penalties under the act range from $50 to $200 upon summary conviction before a resident magistrate, and up to 12 months' imprisonment Therefore, the penalties are not punitive enough to act as deterrent for unlicensed traders," he said.

The information minister said that Cabinet has approved the issuing of drafting instructions to the Office of the Chief Parliamentary Counsel to effect the amendments. The Metal and Jewellery Act and Regulations were promulgated in 1946-1947 to govern the second-hand metal and jewellery industry.