706115-1870-GOVERNMENT-NOTIFICATION-NO-146 — Page 2

· THE HONGKONG GOVERNMENT GAZETTE, 12TH NOVEMBER, 1870.

they should be liable to pay the surplus, if any, arising from such sale, to the. Borrower. The surplus to be forfeited to the Pawnbroker unless claimed within such Period of Six Months.

The Committee also recommend that enactments to the following Effect be retained or introduced, as the case may be, into the Bill:-

1. That Pledges may be made for Six Months, and renewed indefinitely for

Periods not exceeding Six Months at a time.

2. That in the absence of any Special Agreement, a Loan shall be deemed to have been made or renewed for Six Months, but that the Borrower may redeem at any time before the sale of the Pledge.

3. That in addition to the Particulars now required to be recorded in the General Book and Pawn Ticket, the date of each Loan, and the Terms of any Renewal thereof, shall be likewise entered, and also accurate Particulars of any Gold or Silver Articles or of any Jewellery which may be taken in Pledge.

4. That false entries of any Particulars should render the Pawnbroker liable (in addition to the Fine now imposed) to forfeiture of all interest in both the Loan and the Pledge.

5. That the Governor in Council should have Power to direct Public Sales of unredeemed Pledges, excepting Articles which having regard to their Description or Value, it may not seem expedient to include. The Com- mittee while approving of Public Sales of unredeemed Pledges, are disposed to think that the introduction of the system among the Chinese being experimental, it should be brought into force for a certain Period by Order in Council, so as to obviate the necessity of fresh Legislation in the event of it being found not to work satisfactorily.

6. That the amount of the Proceeds of every unredeemed Pledge, sold by the Pawnbroker shall be entered in the General Book, and that the Bor- rower shall be entitled to inspect such Entry at any time before the forfeiture of the Surplus.

7. That Pawnbrokers be prohibited from taking unfinished Goods in Pledge. 8. That Pawnbrokers be required to affix in a conspicuous part of their

shop a copy in Chinese of Section XVII of Ordinance No. 3 of 1860. 9. That Section VIII of Ordinance No. 13 of 1867, (an isolated Section relating to Pawnbrokers introduced in an Ordinance relating to Naval and Victualling Stores) be repealed, and its Provisions substantially re-enacted in the Bill now under consideration.

10. That Power be given to the Governor in Council to make Orders for better carrying out the Provisions of the Law respecting Pawnbrokers. In conclusion, the Committee have the honor to submit to His Excellency The Lieutenant-Governor a Copy, annexed to this Report, of an Amended Bill embodying the above Recommendations.

JULIAN PAUNCEFOTE. HUGH BOLD GIBB. PHINEAS RYKIE.

Council Chamber, Hongkong, the 27th day of October, 1870.

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

[

1870.]

Title.

WHEREAS it as Belt enacted by the Governor of Hongkong,

HEREAS it is expedient to amend the Law respecting Preamble.

with the Advice of the Legislative Council thereof, as follows:--

I. The following Enactments are hereby repealed; that is to Repealing

say:-

Sections XV and XVIII of Ordinance No. 3 of 1860.

So much of Section XXIV of the same Ordinance as ren-

ders a Pawnbroker liable to the Penalty of Forfeiture of his License for the Offences therein mentioned. Section VIII of Ordinance No. 13 of 1807.

Provided always that the Repeal of the said. Enactments shall not be deemed to apply to or affect any Contract of Pledge made before the Comniencement of this Ordinance.

Clause.

II. From and after the Cominencement 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 fit, and any be

pawned.

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