1984 Ed.]
Pawnbrokers
[CAP. 166
3
nothing in this Ordinance shall apply to any of such loans, or to the goods pawned as security therefor, or to the pawnbroker or borrower in relation to any such loan or the goods so pawned.
(3) Notwithstanding anything in this Ordinance a person shall not be deemed a pawnbroker by reason only of the fact of his paying, advancing or lending any sum of more than the sum specified in the First Schedule.
4. (1) No person shall carry on business as a pawnbroker except under and in accordance with a valid licence.
(2) Any person who contravenes subsection (1) commits an offence and is liable to a fine of $50,000 and to imprisonment for 2 years.
5. (1) The Commissioner may, upon application made to him in the prescribed form and manner and upon payment of the prescribed fee, grant a licence to a person to carry on business as a pawnbroker.
(2) The Commissioner shall not grant a licence unless he is satisfied-
(a) that the applicant is a fit and proper person to carry on business as a pawnbroker;
(b) that the applicant has complied with the provisions of this Ordinance and any regulations relating to the application:
and.
(c) that in all the circumstances the grant of such licence is not contrary to the public interest.
(3) Every licence shall be in the prescribed form and shall authorize the person to whom it is granted to carry on business as a pawnbroker at the premises specified therein for a period of 12 months from the date on which it is granted.
(4) The Commissioner may, upon application made to him in the prescribed form and manner and on payment of the prescribed fee, renew a licence, and the provisions of section 9 shall have effect in respect of any such application to renew.
(5) Any person who makes any false or misleading statement or furnishes any false or misleading information in connexion with any application to obtain or renew a licence under this section commits an offence and is liable to a fine of $20,000 and to imprisonment for 1 year.
6. (1) Except as provided in this section a licence shall not be transferable.
(2) The Commissioner may, on application to him in writing by any person, and on sufficient cause being shown to his satisfaction, permit the transfer of an existing licence until its expiration to another person, and such transfer shall be endorsed on the licence.
Pawnbrokers to obtain licence.
Licences.
Transfer of licence and substitution of premises.
1984 Ed.]
Pawnbrokers
[CAP. 166
3
nothing in this Ordinance shall apply to any of such loans, or to the goods pawned as security therefor, or to the pawnbroker or borrower in relation to any such loan or the goods so pawned.
(3) Notwithstanding anything in this Ordinance a person shall not be deemed a pawnbroker by reason only of the fact of his paying, advancing or lending any sum of more than the sum specified in the First Schedule.
4. (1) No person shall carry on business as a pawnbroker except under and in accordance with a valid licence.
(2) Any person who contravenes subsection (1) commits an offence and is liable to a fine of $50,000 and to imprisonment for 2 years.
5. (1) The Commissioner may, upon application made to him in the prescribed form and manner and upon payment of the prescribed fee, grant a licence to a person to carry on business as a pawnbroker.
(2) The Commissioner shall not grant a licence unless he is satisfied-
(a) that the applicant is a fit and proper person to carry on
business as a pawnbroker;
(b) that the applicant has complied with the provisions of this Ordinance and any regulations relating to the application:
and.
(c) that in all the circumstances the grant of such licence is not
contrary to the public interest.
(3) Every licence shall be in the prescribed form and shall authorize the person to whom it is granted to carry on business as a pawnbroker at the premises specified therein for a period of 12 months from the date on which it is granted.
(4) The Commissioner may, upon application made to him in the prescribed form and manner and on payment of the prescribed fee, renew a licence, and the provisions of section 9 shall have effect in respect of any such application to renew.
(5) Any person who makes any false or misleading statement or furnishes any false or misleading information in connexion with any application to obtain or renew a licence under this section commits an offence and is liable to a fine of $20,000 and to imprisonment for 1 year.
6. (1) Except as provided in this section a licence shall not be transferable.
(2) The Commissioner may, on application to him in writing by any person, and on sufficient cause being shown to his satisfac- tion, permit the transfer of an existing licence until its expiration to another person, and such transfer shall be endorsed on the licence.
Pawnbrokers to obtain licence.
Licences.
Transfer of licence and substitution of premises.
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