New South Wales Consolidated Acts

PAWNBROKERS AND SECOND-HAND DEALERS ACT 1996 - SECT 32B

32B Interest charges and other charges after redemption period

(1) Interest is not chargeable in respect of any period after the end of the redemption period in relation to any pawned goods.

(2) No special fee or charge is payable for the redemption of pawned goods after the end of the redemption period, and fees and charges in respect of the safekeeping of the pawned goods must not be at a higher rate after the end of the redemption period than before.

(3) A pawnbroker is guilty of an offence if the agreement by which goods are pawned contains a provision or condition for the charging of interest in contravention of subsection (1) or (2).

(4) A pawnbroker is guilty of an offence if the pawnbroker charges interest in contravention of subsection (1) or accepts payment of any such interest.

(5) A pawnbroker is guilty of an offence if the pawnbroker imposes a special fee or charge, or a fee or charge at a higher rate, in contravention of subsection (2) or accepts payment of any such fee or charge.

Maximum penalty: 50 penalty units.