Interest chargeable by pawn broker.

General200237 sections

Statutory text

(1) No Pawn Broker shall charge interest on any loan at a rate exceeding by more than two per cent the rate charged by commercial banks on similar loans granted by them.
(2) No Pawn Broker shall demand or take any gifts, articles, commission, charges or amounts under any name whatsoever from the pawner while advancing a loan in terms of this Act, other than the interest.
(3) The total interest payable on a loan shall not exceed the quantum of the principal.

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