The metal recycling industry is a highly regulated environment, primarily governed by the following pieces of legislation:
- The Second Hand Goods Act (SHGA)
- The VAT Act
- The ITA Act
- The Waste Act (NEMWA)
- The OSH Act
- The Labour Relations Act (LRA)
- The Trade Metrology Act
In ensuring compliance with the Republic’s legislation, the following notes are relevant to transactions with FINE METALS:
- All company yards are SAPS certified for “dealer” and “recycler” activities, in terms of the SHGA.
- The company is a long standing member of the Metal Recyclers Association of SA (MRA), which is a SAPS accredited organization.
- Metal valuation is determined by mass measurement via on-site certified scale equipment.
- Photographic records of physical transactions are retained for future reference.
- Registered entities selling scrap metal must provide proof of current SARS registration, valid tax invoices and bank details for receipt of EFT payments.
- Parties selling scrap metal arising from contracts with state utilities, are required to substantiate the authority governing any related scrap metal disposals.
- Other recycler / dealer suppliers must provide proof of SARS and SAPS registration.
- Consumer / foundries are screened for legislative compliance prior to the establishment of a trading account with the company.
- Individuals must present positive identification, address, telephone and vehicle registration details.
- Cash payments are restricted to a pre-determined maximum value, after which settlement defaults to EFT (or cheque) payment.