It seems from the gemara that only on chol hamoed is it permitted to be "meares" however on yom tov itself it is oser. The reshonim speak this out as well. My understanding is the only only reason it would be oser is because of Mecach umemchar. Why would this not be permitted because of "chefzai shomayim motarim" (shabbos 12(1)) "olishadech habonos")
Dovid Bleeman, jerusalem
"Cheftzei Shamayim" is a Heter for the Isur of "v'Dabru Davar," which is an Isur of speaking Devarim Shel Chol on Shabbos, whereas the Isur of Kinyan is an enactment made because of the concern that perhaps one will come to write on Shabbos. Thus, the Heter of Cheftzei Shamayim is not applicable.
D. Zupnik