Pawnbrokers Act 2015 · 2020 Revised Edition · Part 3 · Rights and Obligations When Goods Are Pawned
53. Right to redeem may be freely transferred, etc.
Feedback & supportA pawn ticket, and the right to redeem a pledge, may be assigned or otherwise transferred to any person (including to the pawnbroker who issued the pawn ticket and any other pawnbroker) at any time (including during the redemption period).
pawn
“pawn” means to give possession of goods to a lender of money as security for the repayment of a loan;
An agreement is void to the extent that it purports —
to provide that a pawn ticket, or the right to redeem a pledge, may not be assigned or otherwise transferred; or
to place any restriction or condition on that assignment or transfer.
In particular, the following terms of an agreement are void:
a term that requires a person to offer to assign or otherwise transfer a pawn ticket to the pawnbroker that issued the pawn ticket before the person can assign or transfer the pawn ticket to any other person;
a term that requires a person to offer to assign or otherwise transfer the right to redeem a pledge to the pawnbroker that issued the pawn ticket before the person can assign or transfer the right to any other person.