Amendment status not verified — confirm the current text below against the official source.
Pawnbroker to obtain licence annually. – (1) No person shall, after the expiry of three months from the date on which the provisions of this Act come into force in any area, carry on or continue to carry on business as a pawnbroker at any place in such area, unless he has obtained a pawnbroker’s licence under this Act. 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 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.