Business updates

The Consumer Protection (Importation and Sale of Second-Hand Motor Vehicles) (Amendment) Regulations 2017 have been gazetted through the Government Notice No. 159 of 2017.

Provisions of the new Regulations include, amongst others, that on application the importer must submit a certificate attesting that the company has an issued share capital of not less than Rs 2 million and that no application will be entertained by the Ministry of Industry and Commerce during the period 1 July 2016 to 30 June 2018.

The Ministry may also reject the application where the dealer has failed to import at least 10 second-hand motor vehicles in the 12 months preceding the application.

A copy of the Consumer Protection (Importation and Sale of Second-Hand Motor Vehicles) (Amendment) Regulations 2017 can be accessed by clicking here.

Further amendments regarding the importation of second-hand vehicles have also been made through the Consumer Protection (Control of Imports) (Amendment) Regulations 2017. A copy of the Regulations can be accessed by clicking here.