Pawnbrokers Act 2015 · 2020 Revised Edition · Part 2 · Regulation of Pawnbrokers, Etc.
13. Grounds for declining to approve substantial shareholding, etc.
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Approval under section 12(2)(a) or (b) may be refused, and a direction under section 12(2)(c) may be given, on the following grounds in particular:
the relevant person is a disqualified person;
the relevant person is, in the Registrar’s opinion, not of good character;
Registrar
“Registrar” means the Registrar of Pawnbrokers appointed under section 5, and includes any Deputy Registrar of Pawnbrokers or Assistant Registrar of Pawnbrokers exercising the functions of the Registrar;
the relevant person is, in the Registrar’s opinion, not a fit and proper person to have a substantial shareholding in the applicant’s business of pawnbroking;
business of pawnbroking
“business of pawnbroking” means the business of lending money on the security of pledges;
the relevant person has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the Registrar’s opinion, makes the person unfit to hold a licence.
licence
“licence” means a licence for pawnbroking granted or renewed under this Act;