12Contract or stock number to be displayed on item

12 Contract or stock number to be displayed on item

12 Contract or stock number to be displayed on item

(1) A licensee must, for each item taken in trade or pawn, display the contract number or stock number on the item, or on a label attached to the item, at all times the item is in the licensee’s possession.

Maximum penalty—20 penalty units.

(2) This clause does not apply to an item that displays a unique identifier if it is not reasonably practicable to display the contract number or stock number on the item or on a label attached to the item.

Example.

Watercraft.

(3) In this clause—

stock number for an item is a number that is—

(a) uniquely assigned by the licensee to distinguish the item from each other item held by the licensee in the licensee’s business, and

(b) the same as or different from the contract number for the item, and

(c) recorded electronically and in paper form, and

(d) linked to the contract number for the item in the electronic and paper record.