Pawnbrokers Act 2015 · 2020 Revised Edition · Part 2 · Regulation of Pawnbrokers, Etc.
40. Lapsing of licence
Feedback & supportLast amended by an amending law of 2018.
A licence lapses on the earliest of the following dates (so far as they are applicable):
licence
“licence” means a licence for pawnbroking granted or renewed under this Act;
on the date the Registrar approves the licensee’s application to surrender the licence;
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;
on the date the licensee goes into liquidation or is wound up or otherwise dissolved under the Insolvency, Restructuring and Dissolution Act 2018;
licensee
“licensee” means a person holding a licence, and includes a person whose licence is suspended;
where the licensee has not commenced the business of pawnbroking for a continuous period of 6 months (or any longer period that the Registrar may allow) after the grant of or renewal of the licence, on the date immediately after the expiry of that period;
business of pawnbroking
“business of pawnbroking” means the business of lending money on the security of pledges;
where the licensee has ceased to carry on its business of pawnbroking for a continuous period of 6 months (or any longer period that the Registrar may allow), on the date immediately after the expiry of that period; (e)on any other date that may be prescribed.