1812
No. 16 of 1930.
PAWNBROKERS.
Provided that, in the case of the special classes of goods set forth in the Regulations the special rates of interest there set forth may subject to alteration by the Governor in Council be charged by the pawnbroker in lieu of the foregoing rates.
List of rates to be exposed in the shop.
Loans and interest must be in local currency.
Book to be kept by pawnbroker. [cf. 35 & 36 Vict. c. 93, s. 12.]
+ Regulations. Form No. 1.
Ticket to be given to borrower. [cf. 35 & 36 Vict. c. 93, s. 14.]
Regulations. Form No. 2.
Return of ticket on redelivery of goods. [cf. 35 & 36 Vict. c. 93, s. 26.]*
The first month's interest shall be deemed to be due on the first day of the first month of the loan and shall be deducted from the amount of the loan.
The principal and interest shall be accepted by the pawnbroker in full satisfaction of all charges for or incidental to the loan to which the same relate, and no pawnbroker shall demand interest in excess of the authorized rate or shall charge compound interest.
Every pawnbroker shall expose in a conspicuous place in his shop a clearly legible list, in English and Chinese, to be furnished by the Secretary for Chinese Affairs, of the rates chargeable under this section.
No loans shall be made by any pawnbroker, and no interest on loans shall be charged by him, in any currency other than the currency of the Colony.
13. Every pawnbroker shall before advancing any money on loan enter or cause to be entered in a book to be kept by him for that purpose, and to be called the general book, a legible statement according to Form No. 1 in the Regulations or its equivalent in Chinese or such other form as may hereafter be substituted by the Governor in Council. If a Chinese form is used the rate of interest shall be denoted by a chop.
14. Every pawnbroker shall at the time of making any loan deliver to the borrower a ticket containing a true and legible statement according to Form No. 2 in the Regulations or its equivalent in Chinese or such other form as may hereafter be substituted by the Governor in Council. If a Chinese form is used the rate of interest shall be denoted by a chop.
15. In order to entitle any person to redeem from the pawnbroker the goods pawned, the ticket must be returned to the pawnbroker by the person applying to redeem the goods, except as provided for in section 18.
† As amended by Law Rev. Ord., 1939, Supp. Sched.
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