An elevator overspeed protection apparatus includes a brake apparatus which makes use of eddy currents. The brake apparatus includes a magnetic spring placed on a car in the proximity of a pickup of the elevator overspeed protection apparatus such that, when an arm of the brake apparatus is in a horizontal condition, a displacement of the pickup is prevented with a strong attracting force by the magnetic spring, but when the arm is inclined obliquely, the attracting force of the magnetic spring is prevented from acting upon the pickup. Due to the construction, the brake apparatus operates stably and with certainty and has an increased life.
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