Pawnbrokers Act 2015 · 2020 Revised Edition · Part 3 · Rights and Obligations When Goods Are Pawned
49. Pawn ticket to be issued
Feedback & supportA pawnbroker must not take goods in pawn unless the pawnbroker issues to the pawner a pawn ticket in accordance with this section.
pawnbroker
“pawnbroker” means a person who carries on a business of lending money on the security of pledges;
A pawn ticket must be marked with a unique identification number, and must contain the prescribed particulars in the prescribed format.
pawn
“pawn” means to give possession of goods to a lender of money as security for the repayment of a loan;
The pawner must sign a copy of the pawn ticket.
pawner
“pawner” means a person who pawns goods to a pawnbroker, whether or not the person has any title to, or is authorised to deal in, those goods;
The pawnbroker must keep a signed copy of the pawn ticket.
A loan agreement is voidable at the instance of the pawner unless subsections (1), (2), (3) and (4) are fully complied with.
loan agreement
“loan agreement” means an agreement for the loan of money on the security of a pledge;