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No. S 64

Pawnbrokers Act

(Chapter 222)

Pawnbrokers (Amendment) Rules 2007

In exercise of the powers conferred by section 50 of the Pawnbrokers Act, the Minister for Law hereby makes the following Rules:

Citation and commencement

1. These Rules may be cited as the Pawnbrokers (Amendment) Rules 2007 and shall come into operation on 1st March 2007.

Amendment of rule 15

2. The Pawnbrokers Rules (R 1) is amended by renumbering rule 15 as paragraph (2) of that rule, and by inserting immediately before the following paragraph:

“(1) Every pawnbroker shall keep a copy of each pawn ticket given under section 15 of the Act.”.

New rule 19A

3. The Pawnbrokers Rules are amended by inserting, immediately after rule 19, the following rule:

“Record-keeping requirement

19A.—(1) For the purposes of section 14(1A) of the Act, every pawnbroker shall retain the following books and documents for the prescribed period:

(a)	every copy of a pawn ticket kept under rule 15(1);
(b)	the pledge-book in respect of loans not exceeding $50 kept under rule 16(1);
(c)	the pledge-book in respect of loans exceeding $50 kept under rule 17(1); and
(d)	the sale-books of pledges kept under rule 19(1).

(2) In paragraph (1)(a) to (c), “prescribed period”, in relation to any book or document, means 5 years from —

(a)	the date the pledge to which the book or document relates is redeemed; or
(b)	where the pledge is not redeemed, the date the period of redemption of the pledge expires,

whether such redemption is made, or such period of redemption expires, before, on or after 1st March 2007, as the case may be.

(3) In paragraph (1)(d), “prescribed period” means —

(a)	in relation to any sale-book of pledges for loans exceeding $50, 5 years from the date the pledge to which the sale-book relates is sold; or
(b)	in relation to any sale-book of pledges for loans not exceeding $50, 5 years from the date the period of redemption of the pledge to which the sale-book relates expires,

whether such sale is made, or such period of redemption expires, before, on or after 1st March 2007, as the case may be.”.

[G.N. Nos. S 79/97; S112/2000; S 148/2001]

Made this 14th day of February 2007.

CHAN LAI FUNG

Permanent Secretary,
Ministry of Law,
Singapore.

[LAW 22/001/001 V1; AG/LEG/SL/222/2006/1 Vol. 1]