MANILA-The House of Representatives on Wednesday unanimously approved on third and final reading a measure regulating the issuance, use, and redemption of gift checks, gift certificates, and gift cards to protect the interest of consumers.
The House members overwhelmingly passed House Bill No. 6016, otherwise known as the “Gift Check Non-Expiry Act”, prohibiting expiry dates on gift checks, gift certificates, and gift cards.
Under the bill, it shall be unlawful for any issuer to issue or sell a gift check, gift certificate, and gift card that contain an expiry date.
Only gift checks, gift certificates, and gift cards that are issued to a consumer under an award, loyalty, or promotional program are excluded from the coverage of the bill.
Any violator shall be subjected to a fine of not less than PHP500,000 but not more than PHP1 million or imprisonment of one to five years, or both, upon the discretion of the court.
The Department of Trade and Industry is tasked to be the lead implementing agency.
The Senate has already passed its own version on third reading last August. (PNA)
