Cash for Scrap Metal

Cash for Scrap Metal from Sorsky Recovery Services Liverpool

By: Sorsky Recovery Services Liverpool  16/12/2012
Keywords: Cheshire, Lancashire, scrap

As from 3rd December 2012, the purchasing of scrap metal for cash is an offence and under the new law purchasers of scrap metal need to keep detailed records. Scrap metal transactions must now have traceability and scrap metal dealers must provide an effective audit trail. THE OFFENCE OF BUYING SCRAP METAL FOR CASH Section 146 of the LASPO Act 2012 provides that: (1) A scrap metal dealer must not pay for scrap metal except - (a) by a cheque which under section 81A of the Bills of Exchange Act 1882 is not transferable, or (b) by an electronic transfer of funds (authorised bycredit or debit card or otherwise) To comply with the new buying of scrap metal for cash legislation, Sorsky's Cash for Scrap Metal Service must change and will no longer pay cash for scrap metal. Instead, payments for scrap metal under the Cash for Scrap Metal Service will follow Home Office guidelines and be paid by electronic payment or cheque.

Keywords: cash for scrap service, Cheshire, Lancashire, Northwest, scrap,

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