LAGOS STATE PAWNBROKERS LAW

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LIST OF LAWS OF LAGOS, [ALPHABETICAL]  

PAWNBROKERS LAW

ARRANGEMENT OF SECTIONS

1.       Extension of Law to certain shops

2.       Executors of pawnbrokers

3.       Agents, servants and apprentices of pawnbrokers

4.       Assigns, executors of pawners

5.       Application of Law in respect of loans

General obligations of pawnbrokers

6.       Pawnbrokers to keep books as in First Schedule

7.       Pawnbrokers to keep names over doors, and tables of rates, etc. exhibited in shop

Pawning, redemption and sale

8.       Pawn-tickets to be given for pledges

9.       Profit and charges allowed to pawnbrokers

10.     Pledges redeemable for one year, with seven days of grace

11.     Pledges for Two Hundred and Fifty Naira (t*250.00) or under not redeemed in time forfeited

12.     Pledges above Two Hundred and Fifty Naira (N250.00) redeemable until sale

13.     Sale by auction of pledges above Two Hundred and Fifty Naira (N250.00)

14.     Offences by auctioneers

15.     Power to inspect sale book

16.     Pawnbroker to account for surplus within three years subject to set-off

17.     Offences as to pledges for above Two Hundred and Fifty Kobo (k250.00)

Delivery up of pledge

18.     Holder of pawn-ticket entitled to redeem

19.     Production of pawn-ticket on redemption

20.     Liability of pawnbroker in case of fire

21.     Compensation for depreciation of pledge

22.     Protection of owners and of pawners not having pawn-tickets

23.     Delivery to owner of property unlawfully pawned

24.     Summary order for delivery of pledge to person entitled

General restrictions on pawnbrokers

25.     Prohibition of purchasing pledges; taking pledges from children and others

Unlawful pawning and taking in pawn

26.     Unlawful pawning of goods not property of pawner

27.     Proceedings where persons offering articles in pawn do not give a good account of themselves

28.     Prohibition of taking in pawn linen, clothing and unfinished goods, in certain cases

29.     Search warrant for goods unlawfully pawned

Licences

30.     Yearly licence and fee

31.     Forfeiture of licence on conviction

32.     Licence not to be granted without certificate

33.     Certificates to be granted by magistrate

34.     Form and duration of certificate

35.     Notice of first application

36.     Grounds of refusal of certificate

37.     Forgery of certificate

Penalties and legal proceedings

38.     General penalty for offences

39.     Application of Penalties

40.     Amends for frivolous information

41.     Penalty on common informers compounding information

42.     Detention of person offering forged pawn-ticket

43.     Production of books

44.     Description of stolen goods

45.     Authority to search pawnbroker’s premises

46.     Contracts not void on account of offences

47.     Power to make regulations

48.     Interpretation

49.     Citation and application

SCHEDULES

PAWNBROKERS LAW

A LAW TO REGULATE THE BUSINESS OF PAWNBROKING

LAWS OF LAGOS STATE

LAWS OF THE FEDERAL REPUBLIC OF NIGERIA