Under a new consumer protection regulation, businesses in Ontario will have to eliminate expiry dates on gift cards — plastic cards loaded with cash value — as of October 1.
"Cash equivalent gift cards will never expire," Government Services Minister Gerry Phillips said on Tuesday in Toronto.
"These changes the McGuinty government is bringing in are fair to the consumers and, I might add, fair to business. We're moving forward with our changes. We have had the support of a wide range of stakeholders, including the Consumers Council of Canada and the Retail Council of Canada."
Ontario is the first province in Canada to regulate gift cards. Manitoba is considering introducing similar legislation.
Under the new regulations, businesses will only be permitted to charge additional fees for the customization of a gift card or to replace a lost or stolen card. Businesses must also clearly disclose all terms and conditions associated with redeeming the card.
The law will not apply to loyalty cards or prepaid phone cards.
The number of retailers offering gift cards has been increasing. In 2005, 79 per cent of clothing stores offered the cards, up from 36 per cent in 2003, according to Statistics Canada. Similarly, supermarkets experienced an increase from 57 per cent in 2003 to 70 per cent in 2005.
Share Tools
Latest Ottawa News Headlines
- Hundreds mourn Carleton suicide victim
- Hundreds of Carleton University students gathered outside a residence building Monday to observe a moment of silence for a fellow student who committed suicide on campus over the weekend. more »
- Ottawa sex workers fear predator
- CBC News looks at the fear on Ottawa's streets through the eyes of one long-time prostitute in part one of a CBC News investigation into the search for a serial predator. more »
- Wakefield shops adapt to life without train
- A slow summer without the Wakefield, Que., steam train and its uncertain future has forced some shop owners to change their way of doing things. more »
- Ottawa high school student missing
- Anton Rizk, 18, has been missing from Glebe Collegiate Institute since about 10 a.m. Monday and police are asking for the public's help to find him. more »
Top News Headlines
- HMCS Corner Brook collision damage extensive
- The damage done to HMCS Corner Brook when it hit the ocean floor off B.C.'s coast last summer was more extensive than first reported, CBC News has learned by obtaining exclusive pictures of the submarine. more »
- Mandatory gun sentence struck down by Ontario judge
- An Ontario Superior Court judge has struck down a mandatory minimum sentence for a first offence of possessing a loaded firearm. more »
- UN warns of civil war in Syria
- Syrian government forces renewed their assault on the rebellious city of Homs on Tuesday, activists said, as the UN human rights chief raised fears of civil war. more »
- Online surveillance critics siding with child porn: Toews
- Critics of a bill that would give law enforcement new powers to access Canadians' electronic communications are aligning themselves with child pornographers, Canada's public safety minister says. more »
Most Viewed/Commented
- Hundreds mourn Carleton suicide victim
- Ottawa high school student missing
- Omnibus crime bill could free more accused criminals
- Carleton University confirms death of student
- Ottawa sex workers fear predator
- Greek Canadians in Ottawa react to crisis at home
- Wakefield shops adapt to life without train
- Ban Wi-Fi in classroom, Ontario teachers union urges
- University of Ottawa faces $155M lawsuit
