The Government has released for public consultation exposure draft regulations to support Competition and Consumer Amendment (Gift Cards) Bill 2018 and an explanatory statement. The Bill mandates:
- three year minimum expiry dates for gift cards;
- requires gift cards to display expiry dates; and
- bans post-purchase fees.
The regulations will implement a national scheme for the regulation of gift cards to exempt certain types of gift cards and circumstances from some or all of the Bill’s requirements. The exemptions will allow normal business activities to occur including temporary marketing promotions, secondary markets, free gift cards and time-limited goods and services.
Certain post purchase fees will be exempt from the ban of post-purchase fees. Allowable post purchase fees will be outlined in the regulations.
Submissions are sought on the exposure draft regulations and explanatory materials by 11.59pm on 31 October 2018.