Gift card amendments to the Australian Consumer Law (ACL) contained in Division 3A of Part 3-2 inserted by the Competition and Consumer Amendment (Gift Cards) Act 2018 commenced on 1 November 2019. Background.
- mandate minimum three-year expiry dates for gift cards;
- require gift cards to prominently display expiry dates or the words ‘no expiry date’ if the card will not expire; and
- prohibit gift card issuers from charging certain post-supply fees, which can erode the balance on a gift card over time and operate as a de facto expiry date.
The amendments apply to gift cards supplied on or after 1 November 2019.
The ACL defines a ‘gift card’ as an article that is commonly known to be a gift card or voucher, whether in physical or electronic form, and is redeemable for goods and services.
A gift card does not include credit, charge and debit cards, public transport cards or loyalty cards.