Diamonds Second Amendment Act 30 of 2005

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30 of 2005

The Diamonds Second Amendment Act 30 of 2005 intends:

  • to amend the Diamonds Act, 1986, so as:
    • to define certain expressions;
    • to prohibit assistance to licensees by non-licensed persons at any place where unpolished diamonds are offered for sale;
    • to provide anew for the kinds of licences that may be issued by the South African Diamond and Precious Metals Regulator;
    • to provide for the issue of temporary diamond buyers' permits and certificates which entitle holders thereof to be in possession of unpolished diamonds under certain circumstances;
    • to make fresh provision for the premises on which unpolished diamonds may be dealt in;
    • to require that unpolished diamonds intended for export purposes must first be offered at a diamond exchange and export centre;
    • to extend the powers of the Regulator and of the State Diamond Trader;
    • to require diamond producers to offer a percentage of all diamonds produced in a production cycle to the State Diamond Trader;
    • to require a licensee to retain a register in respect of unpolished diamonds for five years and not only two years; and
    • to repeal certain obsolete provisions; and
  • to provide for matters connected therewith.

Commencement

1 July 2007 (Gazette 30071 of 12 July 2007)

Amendments

Amended by Diamond Export Levy (Administration) Act 14 of 2007

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