Ban on gift cheque expiration advances in Congress

ABS-CBN News

Posted at Aug 30 2017 12:08 PM | Updated as of Aug 30 2017 12:09 PM

MANILA - Legislation that seeks to outlaw the expiration of gift cheques was passed on second reading at the House of Representatives, bringing it a step closer to being enacted into law.

House Bill 6016 prohibits the issuance of gift cheques and gift cards with an expiration date. Such can refused only if mutilated or defaced.

Promos, loyalty programs, warranties, return policies and discounts for senior citizens and persons with disabilities should apply to purchases made with gift cheques, according to the bill.

The measure proposes fines of up to P1 million and 1 to 5 years in jail for violators.

The bills needs to be passed on third and final reading, then reconciled with a Senate version if there is one, before it can be signed into law by the President.

The Department of Trade and Industry earlier issued guidelines against imposing expiration dates on gift cheques. -- RG Cruz, ABS-CBN News