No. S 190
Pawnbrokers Act 2015
(ACT 2 OF 2015)
Pawnbrokers Act (Amendment of
Second Schedule) Order 2015
In exercise of the powers conferred by section 82(1) of the Pawnbrokers Act 2015, the Minister for Law makes the following Order:
Citation and commencement
1.  This Order may be cited as the Pawnbrokers Act (Amendment of Second Schedule) Order 2015 and comes into operation at 12.01 a.m. on 1 April 2015.
Amendment of Second Schedule
2.  Paragraph 1 of the Second Schedule to the Pawnbrokers Act 2015 is deleted and the following paragraph substituted therefor:
1.  A pawnbroker’s profit on a loan must not exceed —
(a)1.5% of the total amount of the loan for each whole month of the term of the loan; and
(b)if the term of the loan cannot be divided into whole months, 1.5% of the total amount of the loan for the balance of the term that is part of a month.”.
Made on 1 April 2015.
NG HOW YUE
Permanent Secretary,
Ministry of Law,
Singapore.
[LAW 06/011/001 Vol. 5; AG/LLRD/SL/222/2013/2 Vol. 1]
(To be presented to Parliament under section 82(3) of the Pawnbrokers Act 2015).