The rate of interest to be charged under sub-section (1) and (2) shall be notified by the State Government each year at the beginning of the year.

Pawn-ticket to be given to pawner: Every pawn broker shall, on taking pledge in pawn, give to the pawner

a ticket in the prescribed form, and no pawnbroker shall take a pledge, in

pawn the pawner takes the pawn-ticket. 9. Conditions relating to redemption of pledge: (1) In the absence of a decree or order of a Civil Court or of an order of a

pawner shall, on production of the pawn-ticket, and on payment of the sum legally payable in respect thereof, be entitled to the delivery of the pledge. (2)

On a declaration being made in the prescribed form by the pawner

(hereafter in this sub-section referred to as the transferor) that the right to redeem the pledge has been transferred to, or is vested in, some other person (hereafter in this section referred to

shall cause an endorsement to be made on the pawn-ticket and in the

pawn book to that effect and thereuponthe transferor's right to redeem

the pledge shall be extinguished and the transferee shall be deemed to be the pawner for the purposes of this section. (3) Where a person claiming to be the messanger or agent of the pawner

declaration in the prescribed form, allow redemption if the pawnbroker is satisfied that the person who claims to be such messenger or agent is in fact such messenger or agent. (4) Where a person producing a pawn-ticket claims to be the messenger or

agent of the pawner and offers to redeem the pledge, the pawnbroker

may send a notice in the prescribed form by registered post to the pawner to the address given by the pawner to the pawner, and if the pawner does not hear to the contrary from the pawner, within two weeks after the date

on which the notice would in the usual course of post reach the pawner,

declaration in the prescribed form allow the person so claiming to redeem the pledge and shall, in that event, be exonerated kom further liability to the pawner, but without prejudice to any rights in respect of that pledge, which the pawner may be entitled by due process of law to enforce against the person who was allowed by the pawnbroker to redeem the pledge. (5)

1. (a) where the pawner is dead and a person who produces the pawn- ticket claims to be the legal representative of the pawner and offers to redeem the pledge, the pawnbroker may, after obtaining from such person a declaration in the prescribed form and after sending a notice to every other person who claims to be entitled to redeem the pledge, . - permit such redemption if the pawnbroker is satisfied that such person is in fact the nearest legal representative of the pawner. Provided that the pawnbroker may decline to permit redemption of the

pledge by such person unless it is delcred by a competent Court that

such person is entitled to redeem the pledge.

1. (b) Where the pawnbroker permits redemption of the pledge under

Clause (a) without declaration of a competent Court, he shall not be

exonerated from liability to the nearest legal representative of the deceased pawner, if such legal representative be a person other than a person who was permitted by the pawnbroker to redeem. (6)

1. (a) Where the pawner alleges that the pawn-ticket has been lost or

allow such redemption:

Provided that if any other person who is in possession of the pawn-

ticket and who is entitled to redeem the pledge objects to the redemption of the pledge by the pawner and claims the right of redemption, the

pawnbroker may decline to pemit redemption of the pledge by the

pawner or such person unless it is declared by a competent Court that the pawner or such person is entitled to redeem the pledge. (b) Before allowing redemption under clause (a) the pawnbroker may insist on indemnity being given by the pawner against a claim by any other person.

(7)

1. (a) where aperson claims to be the owner ofa pledge and alleges that it was pawned without his knowledge or authority, the pawnbroker shall take a declaration hm such person in the prescribed form and send anotice inthe prescribed form by registered post to the pawner at the address given to the pawnbroker b the pawner and similarly to every other claimant, ifany, and if the pawn-broker does not receive any communication in writing fiom the pawner or any other claimant objecting to the delivery of the pledge to the alleged owner within two weeks fiom the date on which the letter would in the usual course ofpost reach the addressee, the pawn-broker may allow the alleged owner to redeem the pledge and pawn-broker is hereafter exonerated fiom Mher liability to the pawner or any other claimant but without prejudice to any rights in respect ofthat pledge to which the pawner or any other claimant may be entitled by due process of law to enforce against the alleged owner who was allowed by the pawn-broker to redeem the pledge.
2. (b) If, on receiving notice, the pawner or any other claimant objects to the delivery of the pledge to the alleged owner, the pawnbroker may decline to permit redemption of the pledge by the alleged owner unless it is declared by acompetent Court thatthe alleged owner is entitled to redeem the pledge.