Australian Capital Territory Consolidated Acts

PAWNBROKERS ACT 1902 - SECT 17

    (1)     This section applies if—

        (a)     a pawned article is sold by the licensed pawnbroker with whom the article was pawned; and

        (b)     there is a surplus; and

        (c)     the person by or for whom the article was pawned claims the surplus within 12 months of the sale.

    (2)     Within 2 days of the person's claim, the pawnbroker must pay the person the surplus, less any necessary charges relating to the sale.

    (3)     A licensed pawnbroker must not, without reasonable excuse, contravene subsection (2).

Maximum penalty: 50 penalty units.

    (4)     In this section:

"surplus" means the amount remaining after the following are subtracted from the amount paid for the article:

        (a)     the amount lent by the pawnbroker on the security of the article ( the advance );

        (b)     any interest due at the time of the sale of the article in relation to the advance.