Singapore legislation
Clause 85
Clause 85
Savings and transitional provisions
(1)
The persons appointed as the Registrar of Pawnbrokers and Assistant Registrars of Pawnbrokers under the repealed Act are deemed to be appointed as the Registrar of Pawnbrokers and Assistant Registrars of Pawnbrokers, respectively, under this Act.
(2)
An offence under the repealed Act may be investigated under the Criminal Procedure Code (Cap. 68) and the provisions of this Act.
(3)
A licence which was granted under the repealed Act and which was in force immediately before the date of commencement of this Act is deemed to be granted under section 7(1), and continues to have effect until 31 December of the year in which it was granted, subject to the provisions of this Act.
(4)
A licence which is deemed under subsection (3) to be granted under section 7(1) may be renewed under section 9(2), subject to the provisions of this Act.
(5)
An application for the grant of a licence under the repealed Act which was pending immediately before the date of commencement of this Act is deemed to be made under this Act.
(6)
A substantial shareholder of a pawnbroker granted a licence under the repealed Act is, if the licence was in force immediately before the date of commencement of this Act, deemed to have been approved under section 12(2)(a), but only until 31 December of the year in which the licence was granted and subject to the provisions of this Act.
(7)
A director of a pawnbroker granted a licence under the repealed Act is, if the licence was in force immediately before the date of commencement of this Act, deemed to have been approved under section 14(3)(a), but only until 31 December of the year in which the licence was granted and subject to the provisions of this Act.
(8)
A manager of a pawnbroker granted a licence under the repealed Act is, if the licence was in force immediately before the date of commencement of this Act, deemed to have been approved under section 14(3)(a), but only until 31 December of the year in which the licence was granted and subject to the provisions of this Act.
(9)
Where an article (referred to in this subsection as the pledge) is pawned with a pawnbroker under the repealed Act —
subject to paragraph (b), the pledge may be redeemed in accordance with sections 17 and 19 of the repealed Act as if those sections had not been repealed;
the period under section 17 of the repealed Act within which the pledge is redeemable may be extended by agreement in accordance with section 55, and upon such extension of that period, this Act applies to the pledge and to the agreement to extend that period; and
if the pledge is not redeemed in accordance with sections 17 and 19 of the repealed Act and the period referred to in paragraph (b) is not extended by agreement in accordance with section 55, the pledge must be disposed of as follows:
if the pledge is pawned for $50 or less, the pledge must be disposed of in accordance with section 18 of the repealed Act as if that section had not been repealed; or
if the pledge is pawned for more than $50 —
the pledge must be disposed of —
(AA)by sale by an auctioneer in accordance with section 20 of the repealed Act as if that section had not been repealed, if the disposal occurs within the period of 8 months after the date of commencement of this Act; or
(AB)by sale in such manner as the Registrar may specify, if the disposal occurs after the period referred to in sub-paragraph (AA);
where the pledge is sold at a price exceeding the loan and profit secured by the pledge, the surplus must be dealt with —
(BA)in accordance with sections 23 and 24(1), (2), (3), (5) and (6) of the repealed Act as if those provisions had not been repealed; and
(BB)in accordance with sub-paragraph (C); and
where a claim is made to the Registrar for any surplus paid to the Accountant-General under section 24(2) of the repealed Act read with sub‑paragraph (B), the Registrar may, if the Registrar considers the claimant to be entitled to the surplus, order the Accountant-General to pay the surplus to the claimant.
(10)
Any subsidiary legislation made under the repealed Act and in force immediately before the date of commencement of this Act continues in force as if made under this Act, so far as the subsidiary legislation is not inconsistent with the provisions of this Act and until the subsidiary legislation is revoked or repealed.
(11)
Any written law or document referring to the repealed Act or any provision of that Act is, as far as may be necessary for preserving its effect, to be construed as referring, or as including a reference to, this Act or the corresponding provision of this Act, as the case may be.
(12)
For a period of 2 years after the date of commencement of this Act, the Minister may, by rules, prescribe such additional provisions of a savings or transitional nature consequent on the enactment of this Act as the Minister may consider necessary or expedient.