N.B. legislation introduced to ban expiry dates on gift cards

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The New Brunswick government is planning to ban expiry dates on retail gift cards.

Opposition MLA Bruce Fitch introduced a bill in the legislature on Wednesday that, if passed, would regulate the sale of gift cards and ban their expire dates.

Consumers Affairs Minister T.J. Burke said the government had been crafting similar regulations, which are expected to be introduced later this year.

Fitch, a Conservative, said he hasn't had any calls about New Brunswickers experiencing problems with gift cards, but the elimination of the expiry dates would be good for consumers and for businesses.

"I haven't had any calls per se but in some of the anecdotal evidence I've had through the media and other venues, it is a concern out there with consumers," Fitch said.

Gift cards are a multibillion-dollar business in Canada.

In 2006, Canadians spent about $1.8 billion on the cards, which are programmed to hold a certain dollar value that can be redeemed at retail stores, according to the Consumers' Association of Canada.

But a recent study in the U.S. estimates that about 25 per cent of the cards go unused.

Many include expiry dates, restrictions on cash-back services and administrative fees.

"You know we live busy lives. We may not have the opportunity to get in right away and utilize the gift card or purchase a product or utilize a product from the card and when it expires, it upsets people," Burke said.[/SIZE][/B]