Pawnbrokers Act 2015 · 2020 Revised Edition · Part 2 · Regulation of Pawnbrokers, Etc.
6. No pawnbroking without licence, etc.
Feedback & supportSubject to subsection (2), it shall be an offence for a person to carry on the business of pawnbroking in Singapore or to hold out that the person is carrying on that business.
business of pawnbroking
“business of pawnbroking” means the business of lending money on the security of pledges;
A person may carry on the business of pawnbroking, and hold out that the person is carrying on that business, only in accordance with —
a licence granted under this Act;
the Registrar’s directions under section 41;
a waiver certificate under section 43; or
a class waiver under section 46.
A person guilty of an offence under subsection (1) shall be liable on conviction —
if the person has no previous qualifying conviction, to a fine not exceeding $50,000; and
if the person has any previous qualifying conviction, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 12 months or to both.
In subsection (3), “qualifying conviction” means a conviction for an offence under subsection (1) or under section 8(5) of the repealed Act.
repealed Act
“repealed Act” means the repealed Pawnbrokers Act in force immediately before 1 April 2015;