As the Deputy may be aware, the new Programme for Government contains a commitment to publish legislation in relation to the regulation of the sale and purchase of precious metals including cash for gold.
Over the past year my Department has undertaken a consultation process on this issue. A number of policy options were set out in the consultation document and these options took account of previous reports on this issue, Private Members' Bills introduced by Deputy McGrath and a Report by the Oireachtas Committee on Justice, Defence and Equality.
A total of 6 submissions were received, many of which had common proposals for introducing safeguards to prevent stolen items of jewellery being sold to businesses trading in precious metals and stones. These included a registration or licensing system, basic identity checks by businesses and payment for relevant items purchased to be made by cheque or electronic means.
On the basis of the submissions received and having regard to previous proposals in this area it is my intention to introduce a proportionate legislative response which will include a system of registration, regulation regarding the purchase of precious metals and stones, powers for An Garda Síochána and penalties for non-compliance.
As outlined in the consultation document, as an initial step consultation with An Garda Síochána to obtain their views on how best to implement this recommended course of action is required. My Department will liaise with other relevant Departments and Agencies as appropriate and it will provide further opportunity for the Deputy and other interested parties to contribute to the process.
