538
THE HONG KONG GOVERNMENT GAZETTE, OCTOBER 17, 1930.
Notification
nature of
business.
10. Every pawnbroker shall cause to be painted and of name and kept painted in large and legible English letters and Chinese characters, over the door of his said place of business, bis or bis firm's name at length, with the addi- tion of the word "Pawnbroker" after the English name and of the word after the Chinese name.
Inspection of goods, books,
etc.
Interest on loans.
11. Every pawubroker shall, whenever required by the Inspector General of Police or by any police officer not below the rank of sergeant, or by any constable authorised thereto in writing by such Inspector General either generally or for a particular occasion, or for particular premises, produce for the inspection of the person so requiring him all or any goods pawned or deposited with him, and all books and papers relating to the same.
12. Every pawnbroker may demand, receive and take simple interest, over and above the principal paid or advanced by him upon any goods pawned with him, from the person applying to redeem the said goods, before redelivering the same, at the following rates or at snch other rates as may from time to time be prescribed by the Governor in Council :
Succeeding mouths.
First month.
On any sum-
not exceeding $1
10%
3%
exceeding
and not
$1 execeding}
8
3%
$7
$14
5%
3%
$14
$42
3%
2%
$42
$140
2%
2%
39
$140.
2%
کولر کا
14%
Second Schedule.
List of rates
to be exposed in the shop.
Loans and interest must be in local
currency.
Book to be kept by pawnbroker.
Third Schedule
Form No. 1.
Ticket to be given to borrower.
Third Schedule Form No. 2.
Provided that, in the case of the special classes of goods set forth in the Second Schedule the special rates of interest set forth in such Schedule may subject to altera- tion by the Governor in Commeil be charged by the pawn- broker in lieu of the foregoing rates.
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 inci- dental to the loan to which the same relate, and no pawn- broker shall demand interest in excess of the authorised rate or shall charge compound interest.
Every pawnbroker shall expose in a conspicuous place in his shop a clearly legible list, to be furnished by the Secretary for Chinese Affairs, of the rates chargeable under this section, in English and Chinese.
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 Third Schedule 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 Third Schedule 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.
Q
J
No comments yet.
Private notes are available after approval.