Ontario to seek ban on gift card expiry dates
Last Updated: Monday, September 25, 2006 | 10:14 AM ET
CBC News
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Ontario Government Services Minister Gerry Phillips says he will introduce legislation this fall to get rid of the expiry dates on gift cards.
On Sunday, Phillips said he hopes the legislation will pass this fall, but that it may be difficult to have a new law in place in time for the busy holiday season.
Phillips is seeking the ban, he says, because consumers deserve to get what they pay for and so should be able to redeem a gift certificate at any time.
The move would make Ontario the first jurisdiction in the country to ban gift card expiry dates.
"We look forward to working with the government to create rules that respond to the concerns of consumers but also take into consideration the legitimate needs of retailers," Diane J. Brisebois, the president and CEO of the Retail Council of Canada, said in a release.
"I am sure a balance can be found," she said.
In a 2005 study on the spread of gift cards, Statistics Canada noted that gift cards appear to be the main contributor to a new phenomenon that has seen a moderation in the usual drop-off in retail sales in January.
Retail sales in January 2003 were 40.3 per cent below the 2002 monthly average. However, in January 2004, sales were 38.3 per cent below the previous year monthly average, and in January 2005, they were 38.5 per cent below the previous year monthly average.
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