The Department of Commerce and Investment (DCI) is reminding secondhand dealers in jewellery and precious metals, personal and household electronic devices, and other items including boat engines and power tools, to implement procedures in compliance with the Secondhand Dealers Law (SDL).
Under the SDL, which commenced on 1 June, secondhand dealers are legally required to take specific actions, such as keeping inventory forms, photographs of goods, and picture IDs of persons who are selling the goods to them. Records must also be maintained on when, where and how the vendors obtained the items for sale.
The law allows for DCI to regularly inspect businesses to ensure the regulations are being met. Suspected instances of illegal activity will be reported to the Royal Cayman Islands Police Service.
For more information, log on to www.dci.gov.ky or email info@dci.gov.ky.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
