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Section 17

Rate of profit

of Pawnbrokers Act 1972

ActIn forceProvision 33 of 85
Section 17
(1)

A licensee may take profit on a loan on any pledge in pawn by way of charges at such rates as may be prescribed by regulations made under this Act, and shall not demand or take any profit in excess of the prescribed rate, or demand or take any sum whatever in respect of any pawning other than such profit.

(2)

Any person who contravenes subsection (1) commits an offence.

Read in full context — Pawnbrokers Act 1972 →