Definition of treasure may change. What does it mean?

The definition of treasure is likely to change as the government plans to lay new amendments in Parliament.

Agencies
Treasure hunt can be enticing and adventurous but it involves knowledge, endeavor and right frame of mindset. However, the definition of treasure is likely to change, according to a Sky News report.

As per the existing rules, legal classification of newly discovered artefacts can only be done if the objects are over 300-year old. Apart from these, the artefacts should be a part of a collection of valuable objects or must be made of precious metal, as per a Sky News report.

The legal definition of treasure is set to change as the UK government mulls amending the definition in the Treasure Act. The aim is to cover precious and rare archaeological discoveries, as per the Sky News report.


The UK government is planning to lay the amendment in Parliament. If the amendment gets approval from lawmakers after a debate, then the change will be enacted four months later.

If the amendment is approved in Parliament, it would pave the way for artefacts made of non-precious metals but extremely rare to be deemed as treasure, as per the Sky News report.

The proposed criteria acknowledge objects that are more than 200 years old notwithstanding the type of metal they are made of.
ADVERTISEMENT

In 2020, the total number of treasures across England, Northern Ireland, and Wales stood at 1,071. The provisional figure for 2021 is 1,079. It must be noted that the Treasure Act is not applied to Scotland, as per a Sky News report.

If the amendment is approved, the figure will no doubt go up.


FAQs:

  1. What's is the meaning of treasure?
    Treasure defines wealth stored up.
  2. What is the meaning of treasure place?
    Treasure place is a building where wealth is kept.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › International › US News › Definition of treasure may change. What does it mean?
Text Size:AAA
Success
This article has been saved

*

+