New South Wales Consolidated Acts

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PAWNBROKERS AND SECOND-HAND DEALERS ACT 1996 - SECT 31A

Notice as to proceeds of sale

31A Notice as to proceeds of sale

(1) Subject to subsection (2), a pawnbroker who sells pawned goods must, before the end of the period of 21 days commencing with the date of the sale, send by post to the last known address of the person who pawned the goods a notice informing the person--
(a) of any amount that may be claimed by the person as surplus proceeds of the sale, and
(b) that the person is entitled to receive that amount from the pawnbroker at the business premises of the pawnbroker or in another manner as agreed, within 12 months after the sale.
: Maximum penalty--50 penalty units.
(2) Subsection (1) does not apply where--
(a) the person who pawned the goods has requested the pawnbroker in writing not to send the notice under that subsection, or
(b) the amount that may be claimed is less than $50 or such other amount as may be prescribed instead.
Note : The expression "surplus proceeds" is defined in section 3.



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