1950_PAWNBROKERS_ORDINANCE — Page 4

Pawnbrokers.

First Succeeding month months.

[CAP. 166

On any sum—

not exceeding $3

10%

3%

G.N. 733/47.

exceeding-

$3 and not exceeding $ 14

8%

3%

$14

""

1)

·

$ 28

5%

3%

$28

$ 84

19

""

19

3%

2%

$84 $280

})

99

19

$280

2%

2%

2%

11% :

Provided that, in the case of the special classes of goods

set forth in the regulations the special rates of interest there Regulations. set forth may subject to alteration by the Governor in Council be charged by the pawnbroker in lieu of the foregoing rates.

(2) 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.

(3) 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.

to be

the shop.

(4) Every pawnbroker shall expose in a conspicuous List of rates place in his shop a clearly legible list, in English and exposed in Chinese, to be furnished by the Secretary for Chinese Affairs, of the rates chargeable under this section.

interest

(5) No loans shall be made by any pawnbroker, and no Loans and interest on loans shall be charged by him, in any currency must be in 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 in the prescribed form or its equivalent in Chinese. If a Chinese form is used the rate of interest shall be denoted by a chop.

local

currency.

Book to be pawnbroker.

kept by

[cf. 35 & 36 Vict. c. 93, s. 12.]

Regulations.

Form 1.

285