15Contract or stock number to be displayed on item

15 Contract or stock number to be displayed on item

15 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 at all times the item is in the licensee’s possession—

(a) on the item, or

(b) on a label attached to the item.

Maximum penalty—20 penalty units.

(2) This section 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—

(a) on the item, or

(b) on a label attached to the item.

Example—

watercraft

(3) In this section—

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—

(i) electronically, and

(ii) in paper form, and

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