12BGoods to be kept at approved business or storage premises: pawnbrokers

12B Goods to be kept at approved business or storage premises: pawnbrokers

12B Goods to be kept at approved business or storage premises: pawnbrokers

(1) Definition In this section—

approved premises, in relation to a licensee carrying on the business of a pawnbroker, or of a pawnbroker and a second-hand dealer, means—

(a) business premises or storage premises nominated in the application for the relevant licence, or

(b) business premises or storage premises later notified by the licensee to the Secretary under section 12A(2), or

(c) other business premises or storage premises in respect of which the licensee is not yet in breach of section 12A(2),

but does not include premises that are for the time being the subject of a declaration under subsection (4), or a direction under subsection (5), that is applicable to the goods concerned.

(2) Unredeemed pawned goods to be kept at approved premises A licensee carrying on the business of a pawnbroker, or of a pawnbroker and a second-hand dealer, must ensure that any goods that are pawned to the licensee are at all times kept at approved premises, until—

(a) the goods are redeemed, or

(b) the goods are purchased, or

(c) the goods are consigned for auction, or

(d) the goods are removed in accordance with a requirement imposed, or an authorisation given, by or under this Act or the regulations.

Maximum penalty—50 penalty units.

(3) It is a condition of a licence to carry on the business of a pawnbroker, or of a pawnbroker and a second-hand dealer, that all goods pawned to the licensee are at all times kept at approved premises as required by subsection (2).

(4) Exclusion of premises from being approved premises The regulations may declare that premises of a specified class are excluded from this section, in relation to all pawned goods or to pawned goods of a specified class.

(5) The Secretary may, by notice given to a licensee, direct that specified premises or premises of a specified class are excluded from this section, in relation to all pawned goods, or to specified pawned goods or to pawned goods of a specified class. The Secretary may, in the same manner, amend or revoke such a direction.