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PRECIOUS STONES TRADE ACT
Acts 8/1978, 1/1982, 22/2001 (s. 4), 10/2007.
ARRANGEMENT OF SECTIONS
- Short title.
- Unlawful dealing in or possession of precious stones prohibited.
- Conditions on which licensed dealer or permit holder may deal in or possess precious stones.
- Conditions on which miner may deal in or possess precious stones.
- Registers to be kept and returns to be made.
- Issue and cancellation of licences.
- Issue and cancellation of permits.
- Miscellaneous provisions relating to licences and permits.
- Licensed dealer not to hold interest in mining location registered for precious stones.
- Transmission of precious stones by post.
- Precious stones in deceased estate.
- Precious stones ownership of which is unknown.
- Powers of entry and search by police officer, mining commissioner and inspector of mines.
- Other offences and penalties; procedure on confiscation.
15A. Forfeiture of precious stones on conviction of offence 16. Procedure on confiscation of precious stones.
- Disabilities entailed by a trader on conviction.
- Person convicted may not enter mining location.
AN ACT to regulate the possession of and dealings in precious stones; and to provide for matters incidental to and connected with the foregoing.
[Date of commencement: 21st April, 1978.]
1 Short title
This Act may be cited as the Precious Stones Trade Act [Chapter 21:06].
(1) In this Act—
“deal”, in relation to precious stones, means buy, sell, barter, pledge, exchange, give or receive, or offer or expose for sale, barter, pledge or exchange, or have any other dealing or transaction whatsoever;
“holder of a mining location” means the person in whose name the mining location is registered and, in the case of a deceased person, a company in liquidation or any person under a legal disability, means the executor, administrator, liquidator, trustee, tutor, curator or other person who has the administration or control of the property of the person in whose name such location is registered;
“inspector of mines” means an inspector of mines appointed in terms of the Mines Act;
“licence” means a licence issued in terms of section seven;
“licensed dealer” means a dealer licensed in terms of section seven;
“Mines Act” means the Mines and Minerals Act [Chapter 21:05];
“mining commissioner” means a mining commissioner appointed in terms of the Mines Act;
“mining location” means a mining location registered in terms of the Mines Act;
“Minister” means the Minister of Mines or any other Minister to whom the President may, from time to time, assign the administration of this Act;
“permit” means a permit issued in terms of section eight;
“permit holder” means the holder of a permit;
“postal article” means any letter, parcel, packet or newspaper or any other article whatsoever in the course of transmission by post or intended to be transmitted by post;
“precious stones” means rough or uncut diamonds, or rough or uncut emeralds or any other substance which is, in terms of subsection (2), declared to be precious stones for the purposes of this Act;
[Definition substituted by section 2 Act No. 10 of 2007]
“Secretary” means the Secretary of the Ministry for which the Minister is responsible;
“tributor” means the lessee or assignee of the rights of the holder of a mining location.
(2) The Minister may, by notice in a statutory instrument, declare any substance to be precious stones for the purposes of this Act.
3 Unlawful dealing in or possession of precious stones prohibited
(1) Except as provided in this Act, no person shall deal in or possess precious stones unless he is— (a) a licensed dealer; or
- a permit holder; or
- the holder of a mining location or a tributor who has lawfully recovered such precious stones in terms of any enactment; or
- the employee or agent of any person referred to in paragraph (a), (b) or (c) who is authorized by his employer or principal to deal in or possess on his behalf precious stones; and deals in or possesses the precious stones in accordance with this Act.
We need the type of information you release to the public and interested parties.
\the gemstone sector seems to be fraught with secrecy and is generally not transparent and accessible to individuals interested in this seemingly lucrative sub-sector of the extractive industry.