New South Wales Consolidated Acts
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PAWNBROKERS AND SECOND-HAND DEALERS ACT 1996 - SECT 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.
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