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Part B: Mineral Rights - Part B-6: Beneficiation - Processing, Trade & Transport - 35. Beneficiation – Processing, Trade and Transport - 35.6 Obligations of the Authorised Processing Facility, Trader/Dealer and Transporter Licence Holder | 35.6(e) Trading Practices

Authorised Trader/Dealers should be subject to obligations under existing law and regulations or new provisions enacted to promote the use of fair trade practices and prevent or penalize the use of unfair or deceptive trade practices.

35.6(e) Example:

Article [_]

(1) Authorised Trader/Dealer licensees shall comply with the general law and regulations on fair trade practices and such regulations on fair trade practices as may be adopted by the regulating entity that issued the licensee’s licence.

(2) In the absence of provisions of general law and regulations to curb any trade practices that it reasonably determines after investigation to be unfair or deceptive, the regulating entity shall adopt regulations to prohibit and penalize such practices on the part of persons to whom it issues licences, consistent with the provisions of this [Act][Code][Law] on penalties for offenses.

Annotation

This provision requires all Authorised Trader/Dealers to comply with general law and regulations with respect to fair trade practices, as well as any regulations on such subject adopted by the regulating entity that issued the licensee’s licence.

The example authorises the respective regulating entities to adopt regulations to curb any trade practices that they “reasonably determine” to be unfair, provided that an investigation of the practices has been conducted before the adoption of such measures. This enables those regulating entities to plug any holes in existing regulations that may become apparent.