In force2026 Revised Edition

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Pawnbrokers Rules 2015 · 2026 Revised Edition · Part 3 · Statutory Duties of Licensees

8. Licensee to keep records of pawnbroking business and transactions

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(1)

For the purposes of section 23(1) of the Act, a licensee must keep the following records:

(a)

a copy of every pawn ticket issued by the licensee;

(b)

a record of the following particulars for each pawn ticket issued by the licensee:

(i)

the unique identification number of the pawn ticket;

(ii)

the identification information of the pawner;

(iii)

the identification information of the owner of the pledge (if not the pawner);

(iv)

the date on which the pledge is made;

(v)

the amount of the loan secured on the pledge;

(vi)

the rate of profit chargeable on the loan;

(vii)

a fair description of the pledge, including any manufacturer serial number or other identifiable mark;

(viii)

the valuation of the pledge given under section 48(1) of the Act;

(ix)

the last day of the redemption period;

(x)

the date on which the pledge is redeemed or forfeited;

(xi)

the amount of profit charged on the loan at the time it is redeemed or forfeited;

(xii)

where the pledge is redeemed by a person other than the pawner, the identification information of the person;

(xiii)

where the pledge is forfeited and disposed of (whether by sale or otherwise) by the licensee —

(A)

the date on which the pledge is disposed of;

(B)

the manner in which the pledge is disposed of;

(C)

the price for which the pledge is disposed of; and

(D)

the identification information of the person to whom the pledge is disposed.

(2)

For the purposes of section 23(2)(a)(iii) and (iv) of the Act, the records in paragraph (1) must be kept —

(a)

from the time the pawn ticket is issued; and

(b)

until the end of 5 years after the pledge is redeemed or forfeited, as the case may be.

Subregulation 1