Recycling has become a huge business in recent years, and there is quite a lot of money to be made in scrap recycling. It has become a £5 billion industry. Unfortunately the high prices being offered for recyclable materials has lead to a lot of theft. When someone would bring scrap to the salvage yards in Cheltenham, the dealer would have no way of knowing if the material was stolen or not. Metal theft has been estimated to cost the UK around £220 million a year. Metal roofs, manhole covers, power lines, and even war memorials have been targeted for theft. Not only was this causing a huge loss to the economy it was also affecting public safety. Something had to be done to curb the theft problems.
Scrap Metal Dealers Act
The Scrap Metal Dealers Act of 2013 replaces the 1964 act, of the same name. The act gives magistrates authority to fine scrap yards found in non compliance with the act. Scrap dealer must be registered with local authorities. All sellers of scrap must have verifiable ID and be properly logged in by the dealer. Also payment is now on a cashless system. The logging of sellers ID and using a cashless payout system will be major factors in deterring theft. It is in your best interest to ensure that the salvage yards you use in Cheltenham are registered. By supporting the legitimate scrap dealers you are helping in the fight against metal thieves, and rogue metal dealers.
Good For The Industry
The Scrap Metal Dealers Act of 2013 may not be perfect but it is seen by the industry as a big improvement over the 1964 Act. It is estimated that almost 50% of the scrap dealers were operating illegally. By removing rogue metal dealers it will help level the playing field. Now there is a common standard to be enforced. This will help the industry remain competitive and ensure that the dealers can grow their businesses within a sustainable and legal framework.
Phelps Brothers Ltd has an enviable reputation for providing a high quality, reliable scrap metal, cash for cars & vehicle recycling services in Cheltenham, UK. Visit them online!
