Under a new consumer protection regulation, businesses in Ontario will have to eliminate expiry dates on gift cards plastic cards loaded with cash value as of October 1st . "Cash equivalent gift cards will never expire," Government Services Minister Gerry Phillips said on Tuesday in Toronto. We have had the support of a wide range of stakeholders, including the Consumers Council of Canada and the Retail Council of Canada." Ontario is the first province in Canada to regulate gift cards. Businesses must also clearly disclose all terms and conditions associated with redeeming the card. The law will not apply to loyalty cards or prepaid phone cards. The number of retailers offering gift cards has been increasing. In 2005, 79 per cent of clothing stores offered the cards, up from 36 per cent in 2003, according to Statistics Canada. I personally think that this is a great new requlation for consumers and for business because the people giving or receiving the cards wouldn’t have to stress about the expiry times that they got on their gift cards. Also by doing this there might be a chance in an increase in consumer demand for the cards as they have less things to worry about.
http://www.cbc.ca/canada/toronto/story/2007/05/29/giftcard-expiry.html
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