Section 16

A pawnbroker may take profit on a loan on a pledge at a rate not exceeding that specified in the Second Schedule.

A pawnbroker may demand and take the charges specified in Second Schedule.

A pawnbroker shall not, in respect of a loan on a pledge take any profit or demand or take any charge or sum whatever other than those specified in the Second Schedule.

A pawnbroker shall, if required at the time of redemption, give a receipt for the amount of loan and profit paid to him.

The Minister may by order amend the rate of profits and charges specified in the Second Schedule.

All orders made under subsection (5) shall be published in the Gazette and shall be presented to Parliament as soon as possible after publication and if a resolution is passed pursuant to a motion notice whereof has been given for a sitting day not later than the first available sitting day of Parliament next after the expiry of 3 months from the date when the orders are so presented annulling the orders or any part thereof as from a specified date, the orders or such part thereof, as the case may be, shall thereupon become void as from that date but without prejudice to the validity of anything previously done thereunder or to the making of new orders.[15