The Andhra Pradesh Pawn Brokers Act, 2002
andhra-pradesh · 2002
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1Short title extent and commencement- (1) This Act may be called the Andhra Pradesh Pawn Brokers Act, 2002
- S. 2Section 2 defines key terms used in the Andhra Pradesh Pawn Brokers Act, 2002, including "Appellate authority," "Company," "Co-operative Society," "Government," "Interest," "Licence," "Licensing Authority," and "Loan."
- S. 3Section 3 mandates that pawn brokers must obtain a license to operate under the Andhra Pradesh Pawn Brokers Act, 2002.
- S. 4Section 4 outlines the process for granting and refusing pawn broker licenses, including conditions for refusal.
- S. 5Section mandates pawn brokers to display their name and profession in their shop.
- S. 6Section 6 mandates pawn brokers to notify the licensing authority before changing business locations and endorse new address on their license.
- S. 7Section 7 limits pawn brokers' interest rates, prohibits additional charges, and caps total interest to the principal amount.
- S. 8Section mandates pawn brokers to provide pawners with a ticket in prescribed form when taking pledges.
- S. 9Section 9 mandates pawn brokers to return pledges upon payment of principal and interest, unless otherwise specified.
- S. 10Section 10 protects pawners who lose their pawn tickets by allowing them to apply for a declaration, which can substitute the ticket if properly made and delivered.
- S. 11Pawn Broker to keep books, give receipts etc
- S. 12Redemption of pledge- Every pledge shall be redeemable within two years from the day of pawning, exclusive of that day
- S. 13Section 13 outlines the sale of pawned items by auction and the process for surplus payments to pawners.
- S. 14Section 14 outlines pawn broker liability for pledge loss due to fire, requiring payment of pledge value minus principal and interest.
- S. 15Section 15 allows a court to award compensation to a pawner if the broker's negligence causes depreciation in pledged item's value.
- S. 16Section 16 appoints inspectors for the Andhra Pradesh Pawn Brokers Act, 2002, defining their powers and jurisdiction.
- S. 17Section 17 empowers licensing and appellate authorities to inspect pawn brokers' records and premises to ensure compliance with the act.
- S. 18Section 18 grants licensing and appellate authorities powers to summon witnesses and compel document production under the Act.
- S. 19Section 19 allows authorized officers to request police assistance for inspections or searches under the act.
- S. 20Power to cancel licence, etc
- S. 21Section mandates publication of license cancellation orders in the district gazette and on the licensing authority's notice board.
- S. 22Section 22 of the Andhra Pradesh Pawn Brokers Act, 2002 prohibits refund of license fee or compensation upon cancellation.
- S. 23Section 23 allows appeals against certain licensing authority orders to the appellate authority within 30 days, with possible extensions.
- S. 24Section penalizes pawn brokers for advancing less or charging more than allowed, with imprisonment and fines.
- S. 25Section 25 penalizes pawn brokers for various unethical practices, including dealing with minors or intoxicated individuals and unauthorized pledge transactions.
- S. 26Section 26 penalizes pawners for providing false information or attempting to redeem without entitlement.
- S. 27Section 27 mandates pawn brokers to report suspected stolen items to the police and cooperate with law enforcement.
- S. 28General penalty for contravention of Act etc
- S. 29Section penalizes pawn broking without a license or in violation of license terms with up to three years imprisonment and a fine.
- S. 30Section 30 holds pawn brokers accountable for penalties if agents or employees violate the Act's provisions.
- S. 31Section 31 allows legal representatives to apply for transferring a pawnbroker's license to their name if the original licensee dies.
- S. 32Section 32 allows pawn broker contracts to remain valid despite certain offenses, except for specific failures that forfeit interest and costs.
- S. 33Section 33 allows the government to review and modify pawn broker orders if found illegal, but only after licensees pay penalties and exhaust appeals.
- S. 34Section 34 prevents legal actions against government officers or actions done under the Act without prior government approval.
- S. 35Power to make rules- (1) The Government may, by notification, make rules for carrying out the purpose of this Act
- S. 36Section 36 ensures the Act complements, rather than overrides, existing laws providing debt relief for farmers and marginalized groups.
- S. 37Section 37 repeals previous pawn broking laws in Andhra Pradesh, except for specific retained provisions.