MONEYLENDERS ACT (NORTHERN IRELAND) 1933 - SECT 14 Special provisions as to pawnbrokers' loans.

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MONEYLENDERS ACT (NORTHERN IRELAND) 1933 - SECT 14

Special provisions as to pawnbrokers' loans.

14.(1) The provisions of sections six, twelve and thirteen of this Act shall
not apply in relation to any loan by a pawnbroker on a pledge, or in relation
to any debt in respect of such a loan, or any interest thereon,
notwithstanding that the loan is not made in the course of the business
carried on by the pawnbroker in accordance with the Acts for the time being in
force in relation to pawnbrokers, so long as the following conditions are
complied with in respect of the loan:

(a)the pawnbroker shall deliver or send to the pawner within seven days a note
or memorandum containing all the terms of the contract, and in particular
showing the date on which the loan is made, the amount of the principal of the
loan, the interest charged on the loan expressed in terms of a rate per cent.
per annum, and any other charges payable by the pawner under the contract,
[and the rate of interest charged shall not exceed the rate of twenty per
cent. per annum];

(b)subject as hereinafter provided, the pawner shall not be charged any sum on
account of costs, charges or expenses incidental to or relating to the
negotiations for or the granting of the loan or proposed loan, except a charge
for the preparation of documents relating to the loan not exceeding the sum of
[5p], and a charge equal to the actual amount of any stamp duty paid by the
pawnbroker upon any such document:

Provided that a pawnbroker shall not be deemed to have failed to comply with
the foregoing conditions by reason of his having made in good faith and in
accordance with the terms of the contract for the loan

(i)a reasonable charge in respect of the storage or care of any pledge which
is not physically delivered to him or which, although so delivered, is of such
weight or size that [it would not, under the provisions of a scheme made under
section 28 of the Post Office Act 1969 relating to parcel post, be received
for transmission by parcel post]; or

(ii)a charge for interest at a rate not exceeding twenty per cent. per annum
upon any sum reasonably expended by the pawnbroker in respect of the storage
or care of the pledge; or

<(iii)a charge not exceeding [5p] for rendering any account of the sale of any pledge; or


<(iv)a charge not exceeding [5p] in respect of any inspection of the pawnbroker's books.


(2) Any charge authorised by this section for the preparation of documents
relating to a loan, or in respect of stamp duty upon any such document, may be
deducted by the pawnbroker from the amount of the loan, and, if so deducted,
shall be deemed for the purposes of this Act to be included in the principal.

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Northern Irish Legislation

MONEYLENDERS ACT (NORTHERN IRELAND) 1933 - SECT 14