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The Hallmarking Act (“the Act”) makes provision for the composition, assaying, marking and description of articles of, or containing, precious metals. This Order applies the provisions of the Act to palladium as a precious metal and the Schedule makes a number of amendments to the Act in connection with the application of its provisions to palladium.
Paragraph 2 of the Schedule amends section 1 of the Act and provides that it is an offence to apply to an unhallmarked item a description that it is wholly or partly made of palladium.
Paragraph 5 of the Schedule amends the definition of “minimum fineness” (contained within the definition of “fineness”) in section 22 of the Act to add a lowest standard of fineness for palladium.
Paragraph 6(4) amends paragraph 9 of Part 2 of the Schedule and provides that any article manufactured before 1st January 2010 and which is made wholly or partly of palladium is an exempt article and therefore the offence provision in section 1of the Act does not apply to such articles.
Paragraph 7 amends Schedule 2 of the Act. Paragraph 7(2) sets out the standard marks for palladium, paragraph 7(3) provides that the optional pictorial mark for palladium is the head of Pallas Athene and paragraph 7(6) adds palladium to the ranking of precious metals.
This Order was notified in draft to the European Commission in accordance with Directive 98/34/EC of the Parliament and of the Council of 22 June 1998 laying down a procedure for the provision of information in the field of technical standards and regulations (OJ No L204, 21.7.98, p 37) as amended by Directive 98/48/EC (OJ No L217, 5.8.98, p 18).
A full impact assessment of the effect that this Order will have on the costs of business is available from the National Measurement Office and is annexed to the Explanatory Memorandum which is available alongside the instrument on the OPSI website at www.opsi.gov.uk.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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