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Government Bans Paying Cash For Scrap

Cash for Car 247 Melbourne is a part of Atlas Car Removals Group and has a long-standing reputation in the auto buying and car wrecking industry of offering vehicle owners satisfying cash offers on their unwanted vehicles.


Williams Landing, VIC 3027, Australia – WEBWIRE

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New laws have come in to effect from 30th May 2018 banning cash for scrap metal and cars. This is to prevent organised crime

Under reforms to the the Second-Hand Dealers and Pawnbrokers Act 1989 and the Second-Hand Dealers and Pawnbrokers Regulations 2018, scrap metal dealers and auto wreckers are now:

  • Banned from receiving or paying cash.
  • Banned from possessing or trading an unidentified motor vehicle, and
  • Required to keep details relating to scrap metal transaction.

Scrap metal dealers are been adviced to be registered, as second hand car dealers through the Business Licensing Authority (BLA) by 1 September 2018.

This means that anyone dealing in scrap metal who is not already a registered second-hand dealer will be assessed by the BLA to determine whether they are suitable to be registered. Factors such as criminal history and previous insolvency will be among circumstances taken into account. 

Police now have expanded search and entry powers that will allow them to enter business and storage premises without a warrant if they reasonably believe that dealing in scrap metal is taking place there.

New offenses have been introduced, with penalties of more than $30,000 for buying or selling scrap metal for cash.

Police will be able to issue on-the-spot fines to scrap metal dealers not adhering to the new laws, with penalties of more than $1,900.

The new laws were developed after Victoria Police and the Victorian Law Reform Commission identified that the scrap metal and vehicle recycling industries are vulnerable to infiltration by organised crime.

At Cash for Car 247 Melbourne, we have stopped paying cash for cars and from June 1st we only pay by cheque or EFT. For more information, visit our website: www.cashforcars247.com.au

 



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