Precious Metals Act, 2005 (Act No. 37 of 2005)23. Regulations |
| (1) | The Minister may by notice in the Gazette make regulations regarding— |
| (a) | the granting of any certificate, permit, licence or other authorisation issued or granted in terms of this Act; |
| (b) | the cancellation and suspension of any certificate, permit, licence or other authorisation issued or granted in terms of this Act; |
| (c) | the prevention of illegal acts pertaining to precious metals; |
| (d) | the requirements for broad-based socio-economic empowerment; |
| (e) | the details relating to precious metal bars that will be regarded as minted bars for the purposes of this Act, which details may include— |
| (i) | precious metal content; |
| (ii) | dimensions and sizes; |
| (iii) | mass; |
| (iv) | approved manufacturers and quantities; |
| (v) | required identifying marks; |
| (vi) | registration numbers; |
| (vii) | tamper-resistant seals and certificates; and |
| (viii) | general appearance and finish; |
| (f) | the circumstances under which minted bars may be held and traded and the documentation relating thereto; |
| (g) | the quantity of minted bars that may be produced in the country; |
| (h) | the manner and form in which a specimen contemplated in section 22 must be submitted for inclusion in the database, when such specimens must be submitted, the documentation that must accompany such specimens and the information that must be provided in respect of each such specimen; |
| (i) | the functions of Inspectors in the service of the Regulator; |
| (j) | documents that would be required as documentary proof of the origin of unwrought or semi-fabricated precious metal imported into the Republic; |
| (k) | carat gold alloys; |
| (l) | anything which may or must be prescribed in terms of this Act; and |
| (m) | any ancillary or incidental administrative or procedural matter that it is necessary to prescribe for the proper implementation or administration of this Act. |
| (2) | Any regulation contemplated in subsection (1)(e), (f) and (g), in relation to gold, may only be made with the concurrence of the Minister of Finance. |