Amendment status not verified — confirm the current text below against the official source.
Pawn broker advancing smaller amount or receiving higher interest than that specified in the accounts to be punishable-(1) Any Pawn Broker, who actually advances an amount less than that shown in pawn-ticket or in his accounts or registers or who takes or receives interest or any other charge at a rate higher than that shown in the pawn-ticket or in his accounts or registers or allowed under this Act, shall be punished with imprisonment for a term which shall not be less than one year but which may extend to three years and with fine which may extend to rupees fifty thousand. 11 (2) If a Pawn Broker is convicted of offence under subsection (1) after having been previously convicted of such offence, the Court convicting him may order his licence as a Pawn Broker to be cancelled.