The 2005 amendments to the Diamonds Act, viz., Diamonds Amendment Act, 2005 and the Diamonds Second Amendment Act, 2005 as well as the 2007 amendment to Regulations under the Diamonds Act took effect on 1 July 2007. These Regulations were also consequently amended on 4 April 2008. The objects of the Regulator in terms of the Diamonds Act, 1986 (as amended) are: (a)    ensure that the diamond resources of the Republic are exploited and developed in the best interests of the people of         South Africa; (b)    promote equitable access to, and local beneficiation of, the Republic's diamonds; and (c)    ensure compliance with the Kimberley Process Certification Scheme. The Regulator’s functions with regard to diamonds include: (a)    implementing, administering and controlling all matters relating to the purchase, sale, beneficiation, import and export          of diamonds; and (b)    establishing diamond exchange and export centres, which shall facilitate the buying, selling, export and import of         diamonds and matters connected therewith. Whilst the former SA Diamond Board had an essentially regulatory role, the SADPMR has a promotional role as well. Through administering licences and export approvals, the SADPMR will strive to ensure that local demand for diamonds and precious metals is catered for, and that there is growth in local beneficiation of diamonds and precious metals.  This will be quite a challenge for SADPMR, but we look forward to our future with optimism and enthusiasm.