Licensing of pawnbrokers

(1) Every pawnbroker shall obtain a separate pawnbroker's licence in respect of each such shop or place of business. Explanation.- Where a pawnbroker has more than one shop or place of business, whether in the same town or village or in different towns and villages, he shall obtain a separate pawnbroker's licence in respect of each such shop or place of business. (2) Every pawnbroker's licence granted under this Act shall expire on the last day of the year for which it was granted, but may be renewed from year to year. [The amendment made by this section has already been incorporated in the principal Act, namely, the Tamil Nadu Debt Relief Act, 1976 (President's Act 31 of 1976).] In section 3 of the principal Act,-(1) in the marginal heading, the word "annually" shall be omitted; (2) sub-section (2) shall be omitted.