The metal recycling industry is a highly regulated environment, primarily governed by the following pieces of legislation:

  1. The Second Hand Goods Act (SHGA)
  2. The VAT Act
  3. The ITA Act
  4. The Waste Act (NEMWA)
  5. The OSH Act
  6. The Labour Relations Act (LRA)
  7. The Trade Metrology Act

In ensuring compliance with the Republic’s legislation, the following notes are relevant to transactions with FINE METALS:

  1. All company yards are SAPS certified for “dealer” and “recycler” activities, in terms of the SHGA.
  2. The company is a long standing member of the Metal Recyclers Association of SA (MRA), which is a SAPS accredited organization.
  3. Metal valuation is determined by mass measurement via on-site certified scale equipment.
  4. Photographic records of physical transactions are retained for future reference.
  5. Registered entities selling scrap metal must provide proof of current SARS registration, valid tax invoices and bank details for receipt of EFT payments.
  6. Parties selling scrap metal arising from contracts with state utilities, are required to substantiate the authority governing any related scrap metal disposals.
  7. Other recycler / dealer suppliers must provide proof of SARS and SAPS registration.
  8. Consumer / foundries are screened for legislative compliance prior to the establishment of a trading account with the company.
  9. Individuals must present positive identification, address, telephone and vehicle registration details.
  10. Cash payments are restricted to a pre-determined maximum value, after which settlement defaults to EFT (or cheque) payment.

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