Amendment status not verified — confirm the current text below against the official source.
(1 ) A pledge pawned shdl not be disposed of sa lc by the pawnbroker otherwise than by sale at a public $~,~;yw;~ auction, conducted in accordance with such rules as may be presoribed. I I + I I 1 (2) Where the highest bid at the sale by auction is the bid of the pawnbroker, tlzc sale shall not take effect unless the bid is for a sum exceeding the sum payable on the pawn inclusive of interest and prescribed charges. i (3) At any time within three years after the public auction, the holder 01' lllc pawn-ticket may inspect the entry relating to thc sale either in the pawnbroker's book or in such catalogue of the auction as may be prescribed. (4) (0) Where a pledge has heen sold for Inore than the amount of the loan ;~ntl the interest and prescribed charges due at the time of the sale, the pawnbroker shall pay to the holdcr of the pawn-ticket on demand made within three ycnrs after the sale, the surplus after deducting therefrom the necessary costs and prescribed charges of the sale. < (b) If on such demand it rrppears that the sale of the pledge has resulted in a su~~plus but that within lwelve months before such. salc, the sale of any other pledge or pledges of the same pciason has resulted in defioit, the pawnbroke7 muy set off the deficit against the surpl~is and s&ll be lic~ble to pay only the. balance, if any, after such set oiT.3 hh% .g - ~ "-, E $,. a *"$ { l YTQ $'"""" 1 .p .- yL-+\ ,r%,,y: . a * . * **piw,? 912' Pawnbrokers 11943: T.N. lict XXhI latarost mt to *[12-A. (1) Notwithstanding anything contained Ir in this 4ct or in any other law, custorp, contract or rcapect OT certain kens any decree or order of any court or other authority,- and pMmS not to be dis- (i) no interest shall accrue in respect of a POwd ofduring loan due to a pawnbroker on the 22nd July 1975, and the period of Operation of the Tamit Nadu (ii) no pledge pawned shall be sold in any Indebted manner whatsoever by the pawnbroker, Persons e e m - porary &lief) during the period of operation of the Tamil Nadu * c f ~ 197a Illdebted Persons (Temporary Relief) Act, 1975. (2) Interest shall accrue in respect of a loan obtained from any pawnbroker after the 22nd July 1975.1 Liability of