705407-1870-GOVERNMENT-NOTIFICATION — Page 4

THE HONGKONG GOVERNMENT GAZETTE, 13TH AUGUST, 1870.

An Ordinance enacted by the Governor of Hongkong, with the Advice of the Legislative Council thereof, to amend the Law respecting Pawnbrokers.

W

[

, 1870.]

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Title.

THEREAS it is expedient to amend the Law respecting Preamble.

Pawnbrokers: Be it enacted by the Governor of Hongkong, with the Advice of the Legislative Council thereof, as follows:-

I. Sections XV and XVIII of Ordinance No. 3 of 1860, are hereby repealed, except as to any Pledge made before the Com- mencement of this Ordinance, and nothing herein contained shall apply to or affect any such Pledge.

Repeal..

II. From and after the Commencement of this Ordinance, Goods Period for may be pawned for any Period not exceeding Six Months, and the which Goods Parties may renew the Loan as often as they shall think it, and may be upon such Terms as to Interest as shall be agreed between them for any further Period not exceeding Six Months at any One

Time.

pawned.

III. In Addition to the Particulars required by Ordinance No. Additional 3 of 1860, to be entered in the "General Book," and on the Pawn Entries in Ticket, such Entries shall specify:

1. The Date of the Loan and the Date agreed upon) for the

Redemption of the Article pawned.

2. In the Case of Jewellery or Gold or Silver Articles, the Weight of Gold or Silver and the Quality thereof as nearly as may be, and whether the Article contains any and what Precious Stones.

The Forms contained in Schedules A and B of Ordinance No. 3 of 1800 may be altered for the Purposes of this Section, and whenever a Renewal of any Loan shall be elected, an Entry of such Renewal and of the Terms thereof shall be made in the "General Book" and on the Pawn Ticket.

General Book and Pawn Ticket.

with Require- ments of Section 111.

IV. Whenever a false Entry shall be knowingly made by any Penalty for not Pawnbroker or any Person in his Employ, in the "General Book" complying or Pawn Ticket, the Pawnbroker in Addition to any Penalty or Punishment incurred by him under Ordinance No. 3 of 1860, shall forfeit to the Borrower, the Money advanced and all Interest due thereon and the Articles pawned shall remain the Property of the Borrower who may claim the Restitution thereof, at any Time before they shall have been sold under the Provisions in that Behalf hereinafter contained, or if sold may claim the Proceeds of the Sale, after deducting the Costs, within Three Months thereafter. In Default of such Claim the said Proceeds shall be forfeited to the Crown.

V. Goods pawned under the Provisions of this Ordinance shall Goods pawned be forfeited at the Expiration of Three Months from the Date agreed when forfeited. upon for the Redemption thereof, unless in the meanwhile, the principal Sum advanced shall have been repaid together with Interest thereon at the stipulated Rate, up to the Day of such Re-payment.

VI. All Goods pawned for any Sum above the Value of Fifteen Forfeited Dollars, which shall have become forfeited under the Provisions of Goods above the last preceding Section shall be sold by Public Auction, by such the Value of Person as the Governor shall appoint, and the Surplus if any of the

$15 to be sold Proceeds of each Article after Deduction of the Costs of Sale, and Anetim.

by Public Payment of the Amount due to the Pawnbroker for Principal and Interest, shall be paid to the Owner of the Goods, in Case he shall claim the same within Three Months of such Sale, otherwise such Surplus shall be paid to and become the Property of the Pawnbroker.

ment of Prin-

VII. The Borrower shall be entitled to claim Restitution of Restitution of any Goods which he may have pledged, and which shall have Goods before become forfeited as aforesaid, at any Time before the actual Sale Sale on Pay- thereof, upon tendering the Amount of the Principal and Interest cipal, Interest at the stipulated Rate, and all Costs incurred in Respect of the and Costs. Goods, up to the Day when he shall claim the Restitution thereof.

VIII. It shall be lawful for the Governor in Council from Time Rules for to Time to make Rules to be published in the Gazette, for regu- regulating lating the Time and Place of holding such Public Auctions of,

Public Auc- forfeited Goods as aforesaid, and generally for carrying into fited Goods.

tions of for- Effect, the Provisions of this Ordinance in Relation thereto, and from Time to Time to rescind or vary such Rules.

IX. This Ordinance and Ordinance No. 3 of 1860, except such This Ordinance Portions thereof as are hereby repealed, shall be read together and No. 3 of and construed as One Ordinance.

1860 to be con- strued as One,

X. This Ordinance shall come into Force on such Day as shall Commence- hereafter be fixed by Proclamation under the Hand of the ment of Governor,

Ordinance.

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