Abstract: An excess flow valve comprising a valve body defining a passage for a flow of fluid therethrough, the passage having an inlet and an outlet for fluid, a magnetically attractable closure member movably located within the passage for movement toward and away from the outlet, a seat located adjacent to the outlet for receiving the closure member. A flow restriction assembly is located in the passage for defining at least two flow paths for fluid along the passage, the flow restriction assembly including a retaining member comprising a permanent magnet for retaining the closure member in one of the flow paths and away from the seat whilst there is a flow rate of fluid through the passage which is less than a predetermined rate, the retaining member releasing the closure member when the flow rate of fluid through the passage equals or exceeds the predetermined rate so that the closure member moves toward the outlet to engage the seat and shut off flow of fluid through the outlet.