Official textFrom Singapore Statutes Online, unchanged
s 1Short title
This Act may be cited as the Pawnbrokers Act.
s 2Interpretation
In this Act —“pawnbroker” includes every person who carries on the business of taking goods and chattels in pawn;“pawner” means a person delivering an article for pawn to a pawnbroker;“pledge” means an article pawned with a pawnbroker;“Registrar” means the Registrar of Pawnbrokers appointed under section 7;“shop” includes a dwelling-house and warehouse or other place of business or place where business is transacted;“unfinished goods or materials” includes any goods of any manufacture or of any part or branch of any manufacture, either mixed or separate, or any materials whatever plainly intended for the composing or manufacturing of any goods, after the goods or materials are put into a state or course of manufacture or into a state for any process or operation to be performed thereupon or therewith, and before the goods or materials are completed or finished for the purpose of wear or consumption.
“pawnbroker” includes every person who carries on the business of taking goods and chattels in pawn;
“pawner” means a person delivering an article for pawn to a pawnbroker;
“pledge” means an article pawned with a pawnbroker;
“Registrar” means the Registrar of Pawnbrokers appointed under section 7;
“shop” includes a dwelling-house and warehouse or other place of business or place where business is transacted;
“unfinished goods or materials” includes any goods of any manufacture or of any part or branch of any manufacture, either mixed or separate, or any materials whatever plainly intended for the composing or manufacturing of any goods, after the goods or materials are put into a state or course of manufacture or into a state for any process or operation to be performed thereupon or therewith, and before the goods or materials are completed or finished for the purpose of wear or consumption.
Any person who —
receives or takes of or from any person whomsoever any goods or chattels by way of security for the repayment of any sum or sums of money, not exceeding $1,000 advanced thereon; or
purchases or receives or takes in goods or chattels and pays or advances or lends thereon any sum or sums of money, not exceeding $1,000, with or under an agreement or understanding express or implied or to be from the nature and character of the dealing reasonably inferred that those goods or chattels may be afterwards redeemed or repurchased on any terms,shall be deemed to be a person carrying on the business of taking goods and chattels in pawn, and every such transaction, article, payment, advance and loan shall be deemed a pawning, pledge or loan respectively within this Act.
Nothing in this Act shall extend to any loan of money exceeding $100 and secured by a pawn or pledge, if the rate of interest does not exceed 10% per annum and if no further or other profit or advantage is taken or agreed for on the loan, or shall extend to prevent a pawnbroker under this Act from taking in pawn goods or chattels exceeding in value the sum of $1,000 or lending thereon a sum exceeding that amount.
s 4Application of this Act to executors, etc., of pawnbrokers
The provisions of this Act relating to pawnbrokers shall extend to and include the executors or administrators of deceased pawnbrokers, except that an executor or administrator shall not be answerable for any penalty or forfeiture personally or out of his own estate, unless the penalty or forfeiture is incurred by his own act or neglect.
For the purposes of this Act, anything done or omitted to be done by the employee or agent of a pawnbroker, in the course of or in relation to the business of the pawnbroker, shall be deemed to be done or omitted, as the case may be, by the pawnbroker.
Anything by this Act authorised to be done by a pawnbroker may be done by his employee or agent.
s 6Extension of rights, etc., of pawners to their assigns, executors, etc.
The rights, powers and benefits by this Act reserved to and conferred on pawners shall extend to, and be deemed to be reserved to, and conferred on, the assignees of pawners, and to and on the executors or administrators of deceased pawners; but any person representing himself to a pawnbroker to be the assign, executor or administrator of a pawner shall, if required by the pawnbroker, produce to the pawnbroker the assignment, probate, letters of administration or other instrument under which he claims.
The Minister may appoint a Registrar of Pawnbrokers and such number of Assistant Registrars of Pawnbrokers and other officers as he may consider necessary or expedient for the purposes of this Act.
An Assistant Registrar shall have and may exercise all the powers conferred on the Registrar by this Act subject to such limitations as the Registrar sees fit to impose.
Every pawnbroker shall annually take out from the Registrar a licence for carrying on his business for which there shall be charged and paid before the grant of the licence such fee as the Minister may prescribe. Application for a licence shall be made in accordance with such rules as may be made under section 50.
Licences shall be subject to such conditions, if any, as may be imposed by the Registrar in addition to those prescribed in section 9.
A separate licence shall be taken out and paid for by a pawnbroker for each pawnbroker’s shop kept by him.
Every licence shall be dated on the day on which it is granted and shall determine on 31st December of each year.
Any person who acts as a pawnbroker or holds himself out as carrying on the business of pawnbroking without having in force a valid licence granted by the Registrar shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 and, in the case of a second or subsequent conviction, shall in addition be liable to imprisonment for a term not exceeding 12 months.
No licence shall be granted by the Registrar to a pawnbroker in respect of any premises unless the Registrar is satisfied —
that the applicant is of good character and is a fit and proper person to carry on the business of pawnbroking;
that the premises to be licenced are suitable for use as a pawnbroker’s shop;
that the premises will not be used for the conduct or transaction of any business other than that of pawnbroking;
that the applicant would obtain adequate insurance against damage, theft or loss of articles that may be pawned with him; and
that the applicant has deposited with the Accountant-General a sum of $20,000 as security for the proper conduct of his business under the licence.
The Registrar may, in his discretion, refuse to grant or renew a licence in respect of any applicant or any premises without assigning any reason.
The Registrar may cancel a licence and forfeit the whole or such part of the money deposited with the Accountant-General under section 9(1)(e) as the Registrar may think fit if he is satisfied that —
the licensed pawnbroker’s shop is being conducted in an improper or unsatisfactory manner;
the licensee has been convicted of an offence under this Act;
the licensee has failed to comply with any of the conditions upon which the licence was granted; or
since the grant of the licence, the licensee or the premises has ceased to comply with any of the requirements set out in section 9(1).
The Registrar shall, before cancelling a licence and forfeiting any money under subsection (1), give the licensee concerned notice in writing of his intention to do so specifying a date, not less than 14 days after the date of the notice, upon which the cancellation and forfeiture shall be made and calling upon the licensee to show cause to the Registrar why his licence should not be cancelled and why his money should not be forfeited.
The Registrar, on receiving any representation from a licensee, may, instead of cancelling a licence and forfeiting any money under subsection (1), impose a penalty not exceeding $20,000 on the licensee and may recover the penalty from any cash deposit or other form of security given by the licensee to the Registrar.
Any cancellation of a licence shall not affect the duties and liabilities of the licensee as a pawnbroker under this Act.
s 11Appeal to Minister
Any person aggrieved by the refusal of the Registrar to grant or renew a licence or the decision of the Registrar to cancel a licence and forfeit any money belonging to the licensee or to impose a penalty may, within 10 days of the written notification to him of the refusal, cancellation, forfeiture or imposition of the penalty, appeal in writing to the Minister whose decision shall be final and conclusive.
s 12Pawnshop to keep open after expiration of licence for redemption of articles
Upon the expiration or sooner determination of any licence, the pawnbroker shall keep open the licensed premises daily from 8 a.m. to 6 p.m. for the redemption of articles pawned with him; and, for all purposes of this Act, except the receiving of articles in pawn, shall continue to exercise the rights and privileges and be subject to the duties and liabilities of a licensed pawnbroker until the whole of the articles held by him in pawn have been redeemed or the latest period of redemption for any of those articles has expired.
Upon the expiration, cancellation or determination of any licence, the Registrar may, if he thinks fit in the interest of pawners, order the pawnbroker to deliver up to any police officer or any officer named in the order all pledges and books and accounts kept by him in connection with the business of pawnbroking.
Any officer referred to in subsection (1) may at any time enter any shop or premises of the pawnbroker and take possession of all pledges, books and accounts and remove them to such place as the Registrar may determine.
The Registrar shall make arrangements for any pledge taken under subsection (2) to be redeemed or, if the period of redemption of the pledge has expired, for the sale of the pledge and the payment of the surplus thereof in the like manner as if the pledge were held by the pawnbroker.
Upon the redemption or the sale of the unredeemed pledges under subsection (3), the Registrar shall, upon payment by the pawnbroker of all expenses incurred by him, hand over to the pawnbroker an account of all sums received from the pawners as payment of moneys borrowed, including interest thereon, and all books and accounts taken under subsection (2).[12A
Every pawnbroker shall —
keep and use in his business such books and documents as are prescribed, and shall enter therein in a clear and legible hand, in such style of character, language or dialect as the Minister directs, the particulars required by rules, and shall make all inquiries necessary for that purpose;Signboards(b)always exhibit at or over the outer door of his shop a signboard of such size and in such position as the Registrar directs having printed thereon, in the English, Malay, Chinese and Tamil languages, the words “Pawnbroker’s Shop”; andCopy of rates to be exhibited(c)exhibit in some convenient place in the shop, so as to be near to and visible to all comers, a legible copy of the rates of profit he may lawfully take under this Act, and also the same information in the English, Malay, Chinese and Tamil languages as is by rules required to be printed on pawn tickets.
Every pawnbroker shall make such monthly returns as may be prescribed by rules made under section 50.
Any pawnbroker who fails in any respect to comply with this section shall be guilty of an offence.[13
s 15Pawnbroker to give pawn ticket
A pawnbroker shall on taking a pledge in pawn give to the pawner a pawn ticket, and shall not take a pledge in pawn unless the pawner takes the pawn ticket.[14
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
s 17Period of redemption of pledge
Every pledge shall be redeemable within 6 months from the day of pawning, exclusive of that day, or in the case of a pledge for a sum exceeding $50 within such longer term as may have been specially agreed upon at the time of pawning.[16
s 18Forfeiture of pledge not exceeding $50 if not redeemed
A pledge pawned for any sum not exceeding $50, if not redeemed within the time allowed by this Act, shall at the end of the time of redemption become and be the pawnbroker’s absolute property.[17
s 19Pledge exceeding $50 redeemable until sale
A pledge pawned for any sum exceeding $50 shall further continue to be redeemable until it is disposed of as in this Act provided, although the time of redemption has expired.[18
A pledge pawned for any sum exceeding $50 shall, when disposed of by the pawnbroker, be disposed of by sale by an auctioneer licensed in that behalf and not otherwise.
The sale by auction under subsection (1) shall be conducted in such manner as may be prescribed.
Where any pledge is not sold by auction in the manner prescribed under subsection (2), the Registrar shall make arrangements for the sale of the pledge by another auction or tender or in such other manner as he thinks fit.
A pawnbroker may bid for and purchase at a sale by auction made under this Act a pledge pawned with him; and on such purchase he shall be deemed the absolute owner of the pledge purchased.
The Minister may, by writing under his hand, license fit persons to conduct sales of forfeited pledges for such periods as in the licence are specified, and may revoke any such licence without assigning any reason.[19
s 21Offences by auctioneer
Any auctioneer who does anything in contravention of this Act or any rules made thereunder relating to auctioneers, or fails to do anything which he is required by this Act or any rules made thereunder to do, shall be guilty of an offence.[20
s 22Right of holder of pawn ticket to inspect sale book
At any time within 4 months after the auction at which a pledge pawned for any sum exceeding $50 is sold, the holder of the pawn ticket may inspect the entry of the sale in the pawnbroker’s book and in the filled-up catalogue of the auction, authenticated by the signature of the auctioneer, or in either of them.[21
Where a pledge pawned for any sum exceeding $50 is sold for more than the reserve price, being the amount of the loan and interest due, the pawnbroker shall, within 10 days after the sale, inform the pawner by registered post of the amount of surplus realised at the sale.
A pawnbroker who fails to include the interest on the loan in the reserve price of any pledge at the time of sale shall be deemed to have waived the interest and shall not recover the interest from the pawner.
No costs or charges of the sale shall be deducted from the amount of surplus without the prior approval in writing of the Registrar.
The pawnbroker shall send to the Registrar, on the first day of every calendar month, a list, written in the English language, showing the result of the sales of the pledges during the preceding calendar month, in Form 3 set out in the First Schedule or in such other form as is prescribed, and the Registrar shall keep such list for 3 months in a place easily accessible to the public.[22
A pawnbroker shall, on demand, pay the surplus under section 23 to the holder of the pawn ticket where the demand is made within 4 months after the sale.
If no demand for the surplus is made within 4 months after the sale under subsection (1), the pawnbroker shall pay the surplus to the Accountant-General within 14 days after the expiration of the period of 4 months.
Any payment under subsection (2) shall be accompanied by a statement containing such particulars as the Registrar may require.
Where a claim is made to the Accountant-General for any surplus paid under subsection (2), the Accountant-General shall, upon receiving a certification from the Registrar that the claimant is entitled to the surplus, authorise payment thereof to be made to him.
Any unclaimed surplus shall, on the expiry of 6 years from the date of payment thereof, be paid by the Accountant-General into the Consolidated Fund.
Any pawnbroker who fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both.[22A
s 25Offences as to pledge for sum exceeding $50
Any pawnbroker who with respect to pledges for loans of a sum exceeding $50 —
does not bona fide, according to the directions of this Act, sell a pledge pawned with him;
enters in his book a pledge as sold for less than the sum for which it was sold, or fails duly to enter the sale of the pledge;
substitutes a pledge pawned with him or any part of it with another article;
tampers with or destroys a pledge;
renders a pledge of less value than it was at the time of the pawning by or through his wilful misbehaviour;
falsely enters in his book a pledge as redeemed;
refuses to permit any person entitled under this Act to inspection of an entry of sale in the pawnbroker’s book or of a filled-up catalogue of the auction, authenticated by the auctioneer’s signature, to inspect the same;
fails without lawful excuse, the proof whereof shall lie on him, to produce such a catalogue on lawful demand; or
refuses to pay on demand the surplus to the person entitled to receive the surplus,shall in every such case be guilty of an offence.[23