Pawnbrokers Act, 1964
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FIFTH SCHEDULE Interest and Charges | ||
Sections 20 (1) (2), 28(1), 32. | ||
PART I | ||
Maximum rate of interest on loans | ||
1. The maximum rate of interest shall be one halfpenny per month for every two shillings of the loan. | ||
2. For the purposes of paragraph 1— | ||
(a) where the term of the loan is less than one month, it shall be reckoned as one month, | ||
(b) where the term of the loan is more than one month but is not an even multiple of one month, the odd fraction of a month shall, if it exceeds seven days, be reckoned as one month; if it does not exceed seven days, it shall be disregarded, | ||
(c) where the loan is less than two shillings, it shall be reckoned as two shillings, | ||
(d) where the loan is not an even multiple of two shillings, the odd fraction of two shillings shall be disregarded. | ||
PART II | ||
Charge on Pawn-ticket | ||
In respect of each pawn-ticket _______ two pence. | ||
PART III | ||
Charge on valuation of pledge | ||
Where the loan is ten pounds or under, for valuation fee on each five shillings or part of five shillings lent _______ two pence. | ||
PART IV | ||
Charge on inspection of Sale Book and Auctioneer's Catalogue | ||
For the inspection of the entry of a sale _______ six pence. | ||
PART V | ||
Charge on Form of Declaration | ||
For a form of declaration _______ six pence. |