22534-1911-Supplementary-Bill-read-a-first-time--Pawnbrokers-Amendment — Page 1

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LEGISLATIVE COUNCIL.

No. S. 65. The following Bill was read a first time at a Meeting of the Council held on the 16th March, 1911 :-

Short title and construe.

tion.

Amendment of section 12 of Ordinance

1 of 1860.

Tippeal of section 16

of Ordinance

1 of 1860

aud section

6 of Or-

dinance No. 21 of 1902 and substitution

therefor.

Repeal of portion of section 4 of Onlinece No. 21 of 1982 anal substitution therefor.

A BILL

EXTULED

An Ordinance to further amend the Pawnbrokers

Ordinances, 1860 and 1902.

Be it clacted by the Governor of Hongkong, with the advice and consent of the Legislative Conneil thereof, as follows:-

1. This Ordinance may be cited as The Pawnbrokers Amendment Ordinance, 1911"; and it shall be read and coustrued as one with the Lawnbrokers Ordinance, 1860, as amended hereinafter called "the Principal Ordinance' by the Pawnbrokers Amendment Ordinance, 1902, herein- after called “the Amending Ordinance ".

2. In section 12 of the Principal Ordinance, instead of the words,

"if made within three months from the day of

making the loan'

in the second and third lines thereof, there shall be read the words,

if made within eight months, or in the case of goods pawned in any part of the New Territories other than New Kowloon if made within twelve months, from the day of making the loan ”.

3. Section 16 of the Principal Ordinance and section 5 of the Amending Ordinance are hereby repealed and replaced by the following

----

16. Subject to the provisions hereinbefore con- tained, goods pawned as aforesaid shall, from and after the expiration of the periods mentioned in section 12 if the same are muredeemed, be- come the property of the lender or his repre- sentatives absolutely: Provided nevertheless that if at the expiration of such periods respect- ively the borrower is desirous of continuing the loan for a further period not exceeding the eight months, or the twelve months, referred to in section 12, as the ease may be, he shall be at liberty to do so on paying the interest then dne. In such case a new ticket shall be issued and a new entry made in the General Book,”

4. The tariff of interest provided by section 4 of the Amending Ordinance is hereby repealed and the following tariff shall be substituted therefor :-

On any sum

First Succeeding

mouth. month.

not exceeding 1 dollar,....... excoeling 1 dollar, and not execeling 7 dollars.................... exceeding 7 dollars, and not exceeding 11 dollars, excceding 14 dollars, and not exceeding 42 dollars, exceeding 42 dollars, and not exceeding 140 dol- lars,

10%

3 %

8%

3 %

5%

3%

2%

execeding 140 dollars,..

212

2

اور کام کر

Objects ond Reasons.

Ordinance No. 21 of 1902 in this Bill called the Amend- ing Ordinance was passed before the Revised Edition was published. It repented section 16 of Ordinance 3 of 1850, which was then the Principal Ordinance, and substituted a proviso therefor. The proviso does not render intelligible the corresponding sections (sections 12 and 16) of No. 1 of 1860, the Principal Ordinance, in the Revised Edition. Clauses 2 and 3 of the Bill are accordingly introduced to make the whole intelligible. Clause 4 of the Bill converts the interest tables from the basis of taels--a mere weight of silver — to dollars--the currency of the Colony.

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