police reminds precious metals dealers to register their business
The Royal Barbados Police Force is reminding persons who intend to operate as precious metals dealers or second hand metals dealers to immediately register as such to ensure compliance with the applicable legal requirements.
Registering as a dealer in either precious metals or second hand metals is a process that begins by registering a proposed business under either the Registration Business Name Act Cap. 317, or the Companies Act Cap. 308. The proposed dealer is then required to submit an application for a licence to the magistrate responsible for the district within which the proposed business is to be established.
On applying, the person shall state the type of licence being applied for. In cases where an application is made on behalf of an individual, the individual’s name, gender, date of birth, residential address, telephone number, registered business name, principle place of the registered business name and telephone number of the principle place of business of the registered business name are required.
When applying on behalf of a company, information supplied should include the name of the company, address of the registered office of the company and the telephone number of the registered office of the company.
After receiving a licence from a magistrate, a registered dealer should take a copy of the licence to Police Headquarters within seven days so it can be registered with the commissioner of police.
The person must state whether or not he or she has been convicted for a breached committed under the act, handling stolen jewellery or second hand metals or was involved in fraud under an enactment.
Police have also warned dealers that it is a legal requirement that they only operate from the registered place of business.
“The practice of encouraging people, through advertisement, to meet at places other than registered places of business for metal dealers to purchase metals should be discontinued as it facilitates the commission of a criminal offence,” Police Public Relation Officer, Inspector David Welch said.