Pawnbrokers (Amendment) Bill

Bill No. 6/1993

Read the first time on 26th February 1993.

An Act to amend the Pawnbrokers Act (Chapter 222 of the 1985 Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:

Short title and commencement

1. This Act may be cited as the Pawnbrokers (Amendment) Act 1993 and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

Amendment of section 8

2. Section 8(5) of the Pawnbrokers Act is amended —

(a)	by inserting, immediately after the word “pawnbroker” in the first line, the words “or holds himself out as carrying on the business of pawnbroking”;
(b)	by deleting “$2,000” in the fourth line and substituting “$20,000”; and
(c)	by deleting the words “6 months” at the end thereof and substituting the words “12 months”.

Amendment of section 9

3. Section 9(1) of the Pawnbrokers Act is amended —

(a)

by deleting paragraph (b) and substituting the following paragraph:

“(b)	that the premises to be licensed are suitable for use as a pawnbroker’s shop;”;

(b)

by deleting the word “and” at the end of paragraph (c), and by inserting immediately thereafter the following paragraph:

“(ca)

that the applicant would obtain adequate insurance against damage, theft or loss of articles that may be pawned with him; and”; and

(c)

by deleting “$5,000” in paragraph (d) and substituting “$20,000”.

Amendment of section 10

4. Section 10(3) of the Pawnbrokers Act is amended by deleting “$5,000” in the fourth line and substituting “$20,000”.

New section 12A

5. The Pawnbrokers Act is amended by inserting, immediately after section 12, the following section:

“Power of Registrar to order pawnbroker to deliver pledges, books and accounts on expiration of licence

12A.—(1) Upon the expiration, cancellation or determination of any licence, the Registrar may, if he thinks fit in the interest of pawners, order the pawnbroker to deliver up to any police officer or any officer named in the order all pledges and books and accounts kept by him in connection with the business of pawnbroking.

(2) Any officer referred to in subsection (1) may at any time enter any shop or premises of the pawnbroker and take possession of all pledges, books and accounts and remove them to such place as the Registrar may determine.

(3) The Registrar shall make arrangements for any pledge taken under subsection (2) to be redeemed or, if the period of redemption of the pledge has expired, for the sale of the pledge and the payment of the surplus thereof in the like manner as if the pledge were held by the pawnbroker.

(4) Upon the redemption or the sale of the unredeemed pledges under subsection (3), the Registrar shall, upon payment by the pawnbroker of all expenses incurred by him, hand over to the pawnbroker an account of all sums received from the pawners as payment of moneys borrowed, including interest thereon, and all books and accounts taken under subsection (2).”.

Amendment of section 19

6. Section 19 of the Pawnbrokers Act is amended by deleting subsection (2) and substituting the following subsections:

“(2) The sale by auction under subsection (1) shall be conducted in such manner as may be prescribed.

(2A) Where any pledge is not sold by auction in the manner prescribed under subsection (2), the Registrar shall make arrangements for the sale of the pledge by another auction or tender or in such other manner as he thinks fit.”.

Amendment of section 20

7. Section 20 of the Pawnbrokers Act is amended by inserting, immediately after the word “Act” wherever it appears, in each case the words “or any rules made thereunder”.

Amendment of section 22

8. Section 22 of the Pawnbrokers Act is amended —

(a)

by deleting subsection (1) and substituting the following subsections:

“(1) Where a pledge pawned for above $50 is sold for more than the reserve price, being the amount of the loan and interest due, the pawnbroker shall, within 10 days after the sale, inform the pawner by registered post of the amount of surplus realised at the sale.

(1A) A pawnbroker who fails to include the interest on the loan in the reserve price of any pledge at the time of sale shall be deemed to have waived the interest and shall not recover the interest from the pawner.

(1B) No costs or charges of the sale shall be deducted from the amount of surplus without the prior approval in writing of the Registrar.”; and

(b)

by deleting subsection (3).

New section 22A

9. The Pawnbrokers Act is amended by inserting, immediately after section 22, the following section:

“Disposal of unclaimed surplus

22A.—(1) A pawnbroker shall, on demand, pay the surplus under section 22 to the holder of the pawn ticket where the demand is made within 4 months after the sale.

(2) If no demand for the surplus is made within 4 months after the sale under subsection (1), the pawnbroker shall pay the surplus to the Accountant-General within 14 days after the expiration of the period of 4 months.

(3) Any payment under subsection (2) shall be accompanied by a statement containing such particulars as the Registrar may require.

(4) Where a claim is made to the Accountant-General for any surplus paid under subsection (2), the Accountant-General shall, upon receiving a certification from the Registrar that the claimant is entitled to the surplus, authorise payment thereof to be made to him.

(5) Any unclaimed surplus shall, on the expiry of 6 years from the date of payment thereof, be paid by the Accountant-General into the Consolidated Fund.

(6) Any pawnbroker who fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both.”.

Amendment of section 23

10. Section 23 of the Pawnbrokers Act is amended by inserting, immediately after paragraph (b), the following paragraphs:

“(ba)	substitutes a pledge pawned with him or any part of it with another article;
(bb)	tampers with or destroys a pledge;
(bc)	renders a pledge of less value than it was at the time of the pawning by or through his wilful misbehaviour;
(bd)	falsely enters in his book a pledge as redeemed;”.

Amendment of section 26

11. Section 26 of the Pawnbrokers Act is amended —

(a)	by deleting the word “quarter” in the last line of subsection (1) and substituting the word “half”; and
(b)	by deleting subsection (2).

Amendment of section 28

12. Section 28 of the Pawnbrokers Act is amended —

(a)

by inserting, immediately after the word “him” at the end of subsection (2), the words “upon receipt of the charge specified in Schedule B”;

(b)

by inserting, immediately after subsection (2), the following subsection:

“(2A) The printed form of declaration referred to in subsection (2) shall contain sufficient particulars of the pawn, including a description of the pledge, the date it was pawned, the pledge number or the lost pawn ticket number so as to enable the pawner to make a declaration before a person authorised to administer oaths or a notary public.”;

(c)

by deleting the words “Magistrate or a notary public by the applicant and by a person identifying him” in the second and third lines of subsection (3) and substituting the words “person authorised to administer oaths or a notary public by the applicant”; and

(d)

by inserting, immediately after subsection (7), the following subsection:

“(8) The Minister may, by order published in the Gazette, amend, add to or revoke the whole or any part of Schedule A.”.

Amendment of section 38

13. Section 38 of the Pawnbrokers Act is amended by deleting “$2,000” at the end thereof and substituting the words “$20,000 or to imprisonment for a term not exceeding 12 months or to both”.

Amendment of section 43

14. Section 43(2) of the Pawnbrokers Act is amended by deleting “$2,000” at the end thereof and substituting the words “$20,000 or to imprisonment for a term not exceeding 12 months or to both”.

Repeal and re-enactment of section 46 and new section 46A

15. Section 46 of the Pawnbrokers Act is repealed and the following sections substituted therefor:

“Jurisdiction of Courts

46. A Magistrate’s Court or a District Court shall have jurisdiction to hear and determine all offences under this Act or any rules made thereunder and, notwithstanding anything to the contrary in the Criminal Procedure Code [Cap. 68], shall have power to impose the full penalty or punishment in respect of any offence under this Act or any rules made thereunder.

Power to compound

46A.—(1) The Registrar may, in his discretion, compound any such offence under this Act or any rules made thereunder as may be prescribed as being an offence which may be compounded by collecting from the person reasonably suspected of having committed the offence a sum not exceeding $1,000.

(2) The Minister may make rules prescribing the offences which may be compounded.”.

Amendment of section 47

16. Section 47 of the Pawnbrokers Act is amended by deleting “$1,000” in subsection (2) and substituting the words “$20,000 or to imprisonment for a term not exceeding 12 months or to both”.

Repeal of Schedule C

17. Schedule C of the Pawnbrokers Act is repealed.

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