Precious Metals Marking Act
The Precious Metals Marking Act is a regulatory statute. It provides for the uniform description and quality marking of precious metals articles (articles made with gold, silver, platinum or palladium) to help consumers make informed purchasing decisions. The Act prohibits the making of false or misleading representations related to precious metal articles. It also requires that dealers who choose to mark their articles with representations related to the precious metal quality, do so as prescribed by the Act and the Regulations. The quality mark must be accompanied by a trade-mark that has been applied for or registered with the Registrar of Trade Marks, Canadian Intellectual Property Office, Industry Canada. The Act allows designated inspectors to: enter a dealer's premises at any reasonable time; require precious metal articles to be made available for inspection; and seize any article that is not marked in accordance with the Act and Regulations.
- Section 3
prohibits dealers from marking a precious metal article or importing a marked article where the marking is not as authorized by the Act.
- Subsection 4(1)
specifies that a quality mark be true and accurate in conformity with the standards and tolerances provided in the Regulations. Subsection 4(2) specifies that only marks authorized by the Regulations, and applied in a manner authorized by the Regulations, can be applied to a precious metal article. Subsection 4(3) requires a registered trade mark to be applied to the article when an authorized quality mark has been applied.
- Offence and punishment
Every dealer or person who contravenes the Act is guilty of an offence and liable to a fine of up to $500 on summary conviction.
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