32AInterest charges

#### 32A Interest charges 32A Interest charges > > (1) If interest charges are able to be debited under a pawn agreement— > > > > > (a) at the end of the redemption period (where that period exceeds one month), or > > > > > (b) at intervals that exceed one month, > > > > the agreement must— > > > > > (c) provide an option for payment of interest charges at monthly intervals, and > > > > > (d) specify the amount payable in respect of each month or (if that amount is not known or ascertainable) the manner of calculating that amount. > > > (2) Payment of an interest charge in respect of a period (whether of one month or any other duration) may be made, by or on behalf of the person who pawned the goods, at any time during business hours during that period. > > > (3) A pawnbroker is guilty of an offence if the agreement by which goods are pawned contains a provision or condition that is inconsistent with subsection (1) or (2). > > > (4) A pawnbroker is guilty of an offence if the pawnbroker refuses to accept or retain payment of interest charges as permitted by subsection (2). > > > (5) Nothing in this section prevents the extension of a redemption period under section 29A. > > Maximum penalty—50 penalty units. > > **s 32A:** Ins 2002 No 104, Sch 1 \[29\].