In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Pawnbrokers Act 2015 · 2020 Revised Edition · Part 3 · Rights and Obligations When Goods Are Pawned
64. Forfeiture to be sole remedy of pawnbroker
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pawnbroker
Defined · s 3
“pawnbroker” means a person who carries on a business of lending money on the security of pledges;
(a)
cannot sue, in debt or otherwise, for the loan or profit secured by the pledge; and
profit
Defined · s 2
“profit”, in relation to a loan secured by a pledge, includes interest on the loan;
(b)
cannot realise the pawnbroker’s security interest in the pledge other than by forfeiture under section 61.
pledge
Defined · s 3
“pledge” means goods that are taken into possession by a lender of money as security for the repayment of a loan.