(1) A pawnbroker must
not require or receive any fee, other than by way of interest, in respect of a
person’s application to enter into a contract with the pawnbroker.
Penalty: $2 000.
(2) A provision in, or
condition of —
(a) a
contract; or
(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.