301Pawnbroker not to charge establishment fee

301 Pawnbroker not to charge establishment fee (1) A pawnbroker must not require or receive a fee, other than by way of interest, in respect of a person's application to enter into a contract with the pawnbroker. (2) A provision in, or condition of: (a) a contract; or

Consumer Affairs and Fair Trading Act 1990 122 (b) an agreement or arrangement in relation to entering into a contract; for a payment other than interest in consideration for entering into a contract with a pawnbroker is of no effect.