Pawnbrokers Act 2015 · 2020 Revised Edition · Part 2 · Regulation of Pawnbrokers, Etc.
27. Licensee to maintain security deposit
Feedback & supportA licensee must place with the Accountant-General a deposit of the prescribed amount.
licensee
“licensee” means a person holding a licence, and includes a person whose licence is suspended;
The deposit must be in cash or any other form that the Registrar may, in writing, allow.
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 deposit is to be security for the licensee’s compliance with the conditions of its licence and the provisions of this Act, including the payment of any financial penalty imposed under section 37(2)(a).
licence
“licence” means a licence for pawnbroking granted or renewed under this Act;
If the deposit or part of the deposit is forfeited by the Registrar, the licensee must replace the forfeited amount within 14 days (or any longer period that the Registrar may allow) after the forfeiture.