PAWNBROKERS LAW
DOWNLOAD OF A COPY OF THIS LAW IS AVAILABLE [N1,500 (PDF) AND N3000 (WORD)] CLICK HERE FOR ONLINE PAYMENT OR TRANSFER TO TREE & TREES, 0013401871, GTBANK. ALL THE LAWS OF LAGOS STATE IS ALSO AVAILABLE AS A COMPENDIUM. EMAIL: lawnigeria@gmail.com or info@gmail.com or Text/WhatsApp +23407067102097 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
[F. & L. 1959, CAP. 146. L.N. 112 OF 1964]
[Commencement] [9th August, 1917]
PAWNBROKERS
1. Extension of Law to certain shops
(1) The following persons will be deemed to be persons carrying on the business of taking goods in pawn: every person who keeps a shop for the purchase or sale of goods or for taking in goods by way of security for money advanced on it, and who purchases or receives or takes in goods, and pays or advances or lends any sum of money not exceeding Ten Thousand Naira (N10,000.00) with or under an agreement or understanding expressed or implied, or to be from the nature and character of the dealing reasonably inferred, that those goods or chattels may be afterwards redeemed or repurchased on any terms.
(2) Every such transaction, article, payment advance and loan will be deemed a pawning, pledge, and loan respectively within this Law.
2. Executors of pawnbrokers
The provisions of this Law relating to pawnbrokers will extend to and include the executors or administrators of deceased pawnbrokers, except that an executor or administrator will not be answerable for any penalty or forfeiture personally or out of the executor or administrator’s estate, unless the same is incurred by the executor or administrator’s act or neglect.
3. Agents, servants and apprentices of pawnbrokers
For the purposes of this Law anything done or omitted by the servant, apprentice or agent of a pawnbroker in the course of or in relation to the business of the pawnbroker will be deemed to be done or omitted (as the case may be) by the pawnbroker, and anything by this Law authorised to be done by a pawnbroker may be done by the pawnbroker’s servant, apprentice or agent.
4. Assigns, executors of pawners
The rights, powers and benefits by this Law reserved to and conferred on pawners will extend to, and be deemed to be reserved to and conferred on, the assigns of pawners, and to and on the executors and administrators of deceased pawners, but any person representing himself to a pawnbroker to be the assign, executor or administrator pawner will, if of a required by the pawnbroker, produce lo the pawnbroker the assignment, will, letters of administration or other instrument under which Le claims.
5. Application of Law in respect of loans
(1) This Law will apply to every loan by a pawnbroker of any sum of money not exceeding Ten Thousand Naira (N10,000.00).
(2) Nothing in this Law will apply to a loan by a pawnbroker of above Ten Thousand Naira (N10,000.00) or to the pledge on which the loan is made, or to the pawnbroker or pawner in relation to the loan or pledge, and notwithstanding anything in this Law, a person will not be deemed a pawnbroker by reason only of the person paying, advancing or lending on any terms any sum or sums of above Ten Thousand Naira (N 10,000.00).
GENERAL OBLIGATIONS OF PAWNBROKERS
6. Pawnbrokers to keep books as in First Schedule
A pawnbroker must keep and use in his business such books and documents as are described in the First Schedule in the forms indicated in it or to the like effect, and must from time to time as occasion requires enter in a fair and legible manner, the particulars indicated in and in accordance with the directions of that schedule, and must make all inquiries necessary for that purpose.
Penalty: a fine of Five Thousand Naira (N5,000.00).
7. Pawnbrokers to keep names over doors and tables of rates, etc. exhibited in shop
A pawnbroker must always—
(a) keep exhibited in large characters, over the outer door of his shop, his name with the word “Pawnbroker”; and
(b) keep placed in a conspicuous part of the pawnbroker’s shop (so as to be legible to every person pawning or redeeming pledges, standing in any box or place provide-d in the shop for persons pawning or redeeming pledges) the same information (printed in English and the native language most commonly spoken in the place in which the pawnbroker’s shop is situated) as is, by the rules of the First schedule, required to be printed on a pawn-ticket.
Penalty: a fine of Five Thousand Naira (N5,000.00).
PAWNING, REDEMPTION AND SALE
8. Pawn-tickets to be given for pledges
A pawnbroker must, on taking a pledge in pawn, give to the pawner a pawn-ticket, and must not take a pledge in pawn unless the pawner takes the pawn-ticket.
9. Profit and charges allowed to pawnbrokers
(1) A pawnbroker may take profit on a loan on a pledge at a rate not exceeding that specified in the Second Schedule’
[Second Schedule.]
(2) A pawnbroker may demand and take the charges specified in the said Schedule, in the cases and according to the rules therein stated and prescribed.
(3) A pawnbroker must not, in respect of a loan on a pledge, take any proht, or demand or take any charge or sum whatever other than those specified in the said Schedule.
(4) A pawnbroker must, if required at the time of redemption, give a receipt for the amount of loan and profit paid to him, and such receipt will not be liable to stamp duty unless the profit amounts for One Thousand Naira (N1,000.00) or more.
10. Pledges redeemable for one (1) year, with seven (7) days of grace
Every pledge will be redeemable within twelve (12) months from the day of pawning, exclusive of that day, and there will be added to that year of redemption seven (7) days of grace, within which every pledge (if not redeemed within the year of redemption) will continue to be redeemable.
11. Pledges for Two Hundred and Fifty Naira (N250.00) or under not redeemed in time forfeited
A pledge pawned for Two Hundred and Fifty Naira @{250.00) or under, if not redeemed within the year of redemption and days of grace will, at the end of the days of grace become and be the pawnbrokers absolute property.
12. Pledges above Two Hundred and Fifty Naira (N250.00) redeemable until sale
A pledge pawned for above Two Hundred and Fifty Naira (N250.00) will further continue redeemable until it is disposed of, as in this Law provided, although the year of redemption and days of grace are expired.
13. sale by auction of pledges above Two Hundred and Fifty Naira (N2s0.00)
(1) A pledge pawned for above Two Hundred and Fifty Naira (N250.00) must, shall, when disposed of by the pawnbroker, be disposed of by sale by public auction, and not otherwise, and the regulations contained in the Third Schedule must be observed with reference to the sale.
[Third Schedule.]
(2) A pawnbroker may bid for and purchase at a sale by auction, made or purporting to be made under this Law, a pledge pawned with the pawnbroker, and on such purchase the pawnbroker will be deemed the absolute owner of the pledge purchased.
14. Offences by auctioneers
If an auctioneer does anything in contravention of the provisions of this Law relating to auctioneers, or fails to do anything which the auctioneer is required by this Law to do, the auctioneer will be liable to a fine of Five Thousand Naira (xs,oo0.oo;.
15. Power to inspect sale book
At any time within three years after the auction at which a pledge pawned for above Two Hundred and Fifty naira (N250.00) is sold, the holder of the pawn-ticket may inspect the entry of sale in the pawnbroker’s book, and in the filled-up catalogue of the auction (authenticated by the signature of the auctioneer) or in either of them.
16. Pawnbroker to account for surplus within three years subject to set-off
(1) where a pledge pawned for above one Naira (N1.00) is sold, and appears from the pawnbroker’s book to have been sold for more than the amount of the loan and profit due at the time of sale, the pawnbroker will, on demand, pay the surplus to the holder of the pawn-ticket, in case the demand is made within three (3) years after the sale, the necessary costs and charges of the sale being first deducted.
(2) If on any such demand it appears from the pawnbroker’s book that the sale of a pledge or pledges has resulted in a surplus, and that within twelve (12) months before or after that sale of another pledge or other pledges of the same person has resulted in a deficit the pawnbroker may set off the deficit against the surplus, and will be liable to pay the balance only after such set-off.
17. Offences as to pledges for above Two Hundred and Fifty Naira (N250.00)
If with respect to pledges for loans of above Two Hundred and Fifty Naira (N250.00) a pawnbroker—
(a) does not bona fide, according to the directions of this Law, sell a pledge pawned with him: or
(b) enters in his book a pledge as sold for less than the sum for which it was sold, or fails duly to enter the same; or
(c) refuses, to permit any person entitled under this Law for of sale in the pawnbroker’s book, or of a filled-u p catalogue of the by the signature of the auctioneer), to inspect the same;
(d) fails without lawful excuse (the proof whereof will lie on him) to produce a catalogue on lawful such demand; or
(e) refuses to pay on demand the surplus to the person entitled to receive the same,
the pawnbroker will in every such case be liable on summary conviction to forfeit to the person aggrieved a sum of Five Thousand Naira (N5,000.00) only.
DELIVERY UP OF PLEDGE
18. Holder of pawn-ticket entitled to redeem
The holder for the time being of a pawn-ticket will be presumed to be the person entitled to redeem the pledge, and, subject to the provisions oi this Law, the pawnbroker will accordingly (on payment of the loan and profit) deliver the pledge to the person producing the pawn-ticket, and the person is hereby indemnified for so doing.
19. Production of pawn-ticket on redemption
A pawnbroker will not (except as in this Law provided) be bound to deliver back a pledge unless the pawn-ticket for it is delivered to the pawnbroker.
20. Liability of pawnbroker in case of lire
(1) Where a pledge is. destroyed or damaged by or in consequence of fire, the pawnbroker will nevertheless be liable, on application within the period during which the pledge would have been redeemable, to pay the value of the pledge, after deducting the amount of the loan and profit, such value to be the amount of the loan and profit, and 25 per cent on the amount of the loan.
(2) A pawnbroker will be entitled to insure to the extent of the value so estimated.
21. Compensation for depreciation of pledge
If a person entitled and offering to redeem a magistrate pledge shows to the satisfaction of a that the pledge has become or has been rendered of less value than it was at the time of the pawning by or through the default, neglect or wilful misbehaviour of the pawnbroker, the magistrate may award a reasonable compensation to the owner of the pledge in respect of the damage, and the-amount awarded will be deducted from the amount payable to the pawnbroker, or will be paid by the pawnbroker (as the case requires) in such manner as the magistrate may direct.
22. Protection of owners and of pawners not having pawn-tickets
The following provisions will have effect for the protection of owners of articles pawned, and of pawners not having their pawn-tickets to produce—
(a) any person claiming to be the owner of a pledge but not hording the pawn- ticket, or any person claiming to be entitled to hold a pawn-ticket, but alleging that the same has been lost, mislaid, destroyed or stolen, or fraudulently obtained from the person, may apply to the pawnbroker for a printed form of declaration, which the pawnbroker will deliver to the person;
(b) if the applicant delivers back to the pawnbroker the declaration duly made by him, and by a person identifying him, before a magistrate or a commissioner appointed to take affidavits and declaration the applicant will have, as between him and the pawnbroker, all the same rights and remedies as if the applicant produced the pawn-ticket:
Provided that such a declaration will not be effectual for that purpose unless it is duly made and delivered back to the pawnbroker not later than on the third day after the day on which the form is delivered to the applicant by the pawnbroker (exclusive of a day or days on which the pawnbroker is prohibited from carrying on business);
(c) the pawnbroker is hereby indemnified for not delivering the pledge to any person until the expiration of the period aforesaid; and
(d) the pawnbroker is further hereby indemnified for delivering the pledge or otherwise acting in conformity with the declaration, unless the pawnbroker has actual or constructive notice that the declaration is fraudulent or is false in any material particular.
23. Delivery to owner of property unlawfully pawned
In each of the following cases—
(a) if any person is convicted under this Law of knowingly and designedly pawning with a pawnbroker anything being the property of another person, the pawner not being employed or authorised by the owner thereof to pawn the same; or
(b) if any person is convicted of stealing or fraudulently obtaining any goods, and it appears to the court that the same have been pawned with a pawnbroker; or
(c) if in any proceedings it appears to the court that any goods brought before the court have been unlawfully pawned with a pawnbroker,
the court, on proof of the ownership of the goods, may, if the court thinks fit, order the delivery of it to the owner, either on payment to the pawnbroker of the amount of the loan or of any part of it, or without payment thereofor of any part thereof, as to the court, according to the conduct of the owner and the other circumstances of the case, may seem just and fitting.
24. Summary order for delivery of pledge to person entitled
If a pawnbroker, without reasonable excuse (the proof whereof will lie on the pawnbroker), refuses or neglects to deliver a pledge to the person entitled to have delivery of it under this Law the pawnbroker will be guilty of an offence against this Law and a magistrate may with or without imposing a penalty, order the delivery of the pledge on payment of the amount of the loan and profit.
GENERAL RESTRICTIONS ON PAWNBROKERS
25. Prohibition of purchasing pledges; taking pledges from children and others
Any pawnbroker who-
(a) takes an article in pawn from any person appearing to be under the age of fourteen (14) years or to be intoxicated; or
(b) purchases or takes in pawn or exchange a pawn-ticket issued by another pawnbroker; or
(c) employs any servant or apprentice or other person under the age of sixteen (16) years to take pledges in pawn; or
(d) under any pretence purchases, except at public auction, any pledge while in pawn with the pawnbroker; or
(e) suffers any pledge while in pawn with the pawnbroker to be redeemed with a view to the pawnbroker purchasing it; or
(f) makes any contract or agreement with any person pawning or offering to pawn any article, or with the owner, for the purchase, sale or disposition of if within the time of redemption; or
(g) sells or otherwise disposes of any-pledge pawned with the pawnbroker, except at such time and in such manner as authorised by this Law; or
(h) takes any goods or chattels in pawn from any person before 6am or after 6pm; or
(i) carries on the business of a pawnbroker on Sunday, Good Friday or Christmas Day,
will be liable to a fine of Five thousand naira @{5,000.00).
UNLAWFUL PAWNING AND TAKING IN PAWN
26. Unlawful pawning of goods not property of pawner
(1) Any person who knowingly and designedly pawns with a pawnbroker anything being the property of another person, the pawner not being employed or authorised by the owner to pawn the same, will be liable on summary conviction to forfeit a sum of Two Thousand Five Hundred Naira (N2,500.00), and, in-addition, any sum not exceeding the full value of the pledge as ascertained by the court.
(2) The forfeitures when recovered will be applied towards making satisfaction to the part injured, and defraying the costs of prosecution, as the court may direct, but if the party injured declines to accept of such satisfaction and costs, if there is any surplus of the forfeitures or surplus (as the case maybe) will be paid into general
27. Proceedings where persons offering articles in pawn do not good account of themselves
(1) Any person who_
(a) offers to a pawnbroker an article by way of pawn, being unable or refusing to give a satisfactory account of the means by which the person became possessed of the article; or
(b) wilfully gives false information to a pawnbroker as to whether an article offered by the person in pawn to the pawnbroker is the person’s property or not, or as to the person’s name and address, or as to the name and address of the owner of the article; or
(c) not being entitled to redeem, and not having any colour of title by law to redeem a pledge, attempts or endeavours to redeem the same, will be liable to a fine of Five Thousand Naira (N5,000.00).
(2) In every such case, and also in any case where, on an article being offered in pawn to a pawnbroker, the pawnbroker reasonably suspects that it has been stolen or otherwise illegally or clandestinely obtained, the pawnbroker may seize and detain the person and the article, or either of them, and will deliver the person and the article or either of them (as the case may be) as soon as may be into the custody of a police officer, who will as soon as may be convey the person, if so detained, before a magistrate to be dealt with according to law.
28. Prohibition of taking in pawn linen clothing and unfinished goods, in certain cases
If a pawnbroker knowingly takes in pawn any linen, or apparel, or unfinished goods or materials entrusted to any person to wash, scour, iron, mend, manufacture, work up, finish or make up, the pawnbroker will be liable to a fine of Five Thousand Naira (N5,000.00); and the pawnbroker will likewise restore the pledge to the owner in the presence of the magistrate or as the magistrate may direct.
29. Search warrant for goods unlawfully pawned
(1) If the owner of any linen, or apparel, or unfinished goods or materials entrusted to any person as aforesaid, and unlawfully pawned with a pawnbroker, or the owner of any other article unlawfully pawned with a pawnbroker (the last mentioned owner having upon oath satisfied a magistrate that the goods have been unlawfully obtained or taken from the owner), swears an information before a magistrate that there is good cause to suspect that a pawnbroker has taken in pawn the linen, apparel, goods, materials or article aforesaid without the privity or authority of the owner, and satisfies the magistrate that there are probable grounds for such suspicion, the magistrate may issue the warrant for searching, within the hours of business, the shop of the pawnbroker.
(2) If the pawnbroker, on request by a police officer authorised by the warrant, refuses to open the shop and permit it to be searched, a police officer may break it open, within the hours of business, and search for the linen, apparel, goods, materials or articles stated in the warrant.
(3) If on the search any linen, apparel, goods, materials, or article, is or are found, and the property of the owner is made out to the satisfaction of a magistrate, the magistrate will cause the same to be forthwith restored to the owner.
LICENCES
30. Yearly licence and fee
(1) Every pawnbroker must yearly take out from the prescribed officer a licence for carrying on business, for which licence there must be paid such fee as may be prescribed.
(2) Every licence must be dated on the day on which it is issued, and must determine on the 3lst day of December following.
(3) A separate licence must be taken out and paid for by a pawnbroker for each pawnbroker’s shop.
(4) If a person acts as a pawnbroker without having in force a proper licence, the person will be liable to a fine of Forty Five Thousand Naira (N45,000.00).
31. Forfeiture of licence on conviction
If a pawnbroker is convicted of any fraud in the pawnbroker’s business or of receiving stolen goods knowing them to be stolen, the court before which the pawnbroker is convicted may, if it thinks fit, direct that the pawnbroker’s licence be forfeited.
32. Licence not to be granted without certificate
(1) A pawnbroker’s licence must not be granted to any person except on the production and in pursuance of the authority of a certificate granted under this Law.
(2) Any licence granted in contravention of this section will be void.
33. Certificates to be granted by magistrate
Certificates under this Law will be granted by a magistrate having jurisdiction in the place where the applicant intends to carry on business.
34. Form and duration of certificate
A certificate under this Law must be in the form given in the Fourth Schedule or to the like effect, and will be in force for one year.
35. Notice of first application
A person intending to apply for the first time for a certificate under this Law must, twenty-one (21) days at least before the application, give notice by registered letter sent by post of the intention to the senior officer of police in the district, and must in the notice state his name and address, and the situation of the shop in which he intends to carry on business.
36. Grounds of refusal of certificate
An application for a certificate must not be refused except on one or more of the following grounds—
(a) that the applicant has failed to produce satisfactory evidence of good character;
(b) that the shop in which the applicant intends to carry on the business of a pawnbroker or any adjacent house or place owned or occupied by the applicant, is frequented by thieves or persons of bad character;
(c) that the applicant has not complied with the last preceding section.
37. Forgery of certificate
(1) If any person forges a certificate, or tenders a certificate knowing it to be forged, the person will be liable to a fine of Forty Five Thousand Naira (N45,000.00) or to imprisonment for six (6) months.
(2) A licence granted in pursuance of a forged certificate will be void, and if any person makes use of a forged certificate, knowing it to be forged, he will be disqualified from obtaining at any time after a pawnbroker’s licence.
PENALTIES AND LEGAL PROCEEDINGS
38. General penalty for offences
If a pawnbroker or other person is guilty of an offence against this Law, in respect of which a specific forfeiture or penalty is not prescribed by this Law, the pawnbroker or other person will on conviction be liable to a fine of Five thousand Naira (N5,000.00).
39. Application of penalties
Any penalty recovered under this Law, not directed to be otherwise applied, may be applied under direction of the court before which it is recovered, as follows-
(a) where the complainant is the party aggrieved, one moiety of the penalty may be paid to the complainant; and
(b) where the complainant is not the party aggrieved, there may be paid to the complainant such part (if any) of the penalty as the court may think fit.
40. Amends for frivolous information
Where a complaint or information of any offence against this Law (not being an offence against any provision of this Law relating to licences), is made or laid before a magistrate and is not further prosecuted, or if any such complaint or information is further prosecuted, but it appears to the magistrate by whom the case is heard that there was no sufficient ground for the making of the charge, the magistrate will have power to award such amends, not exceeding the sum of Ten Thousand Naira (N10,000.00), to be paid by the complainant or informant to the party complained of or informed against for the loss of time and expenses in the matter, as to the magistrate may seem meet; and every sum so awarded will be recoverable as fines are recoverable.
41. Penalty on common informers compounding information
If any person lays an information for an offence alleged to have been committed against this Law by which the person was not personally aggrieved, and afterwards directly or indirectly receives any sum of money or other reward for compounding, delaying or withdrawing the information, the person will be liable to a fine of Five Thousand naira (N 5,000.00).
42. Detention of person offering forged pawn-ticket
If any person utters, produces, shows or offers to a pawnbroker a pawn-ticket which the pawnbroker reasonably suspects to have been counterfeited, forged or altered, the pawnbroker may seize and detain the person and the ticket, or either of them, and may deliver the person and the ticket, or either of them (as the case may be) as soon as may be into the custody of a police officer, who will, as soon as may be, convey the person, if so detained, before a magistrate to be dealt with according to law.
43. Production of books
The books required by this Law to be kept by a pawnbroker must be produced by the pawnbroker for examination at any time during business hours on demand by any court or by any superior police officer or any police officer holding a written authority from a superior police officer authorising such officer to act under this section, who are hereby severally authorised to enter at any time during business hours any pawnbroker’s shop without warrant to search for and examine the said books and to take extracts and copies from it.
Penalty: a fine of Five Thousand Naira (N5,000.00).
44. Description of stolen goods
The police on receiving information of any property being lost or stolen or otherwise fraudulently disposed of will, as soon as possible, furnish all pawnbrokers with a description of it. If any property answering to such description be in the possession of any pawnbroker, or be offered or shown to any pawnbroker, the pawnbroker must immediately give notice to that effect at the nearest police station or to a police officer. The pawnbroker will at the same time give the name and address of the person from whom the property was or by whom the property was offered or shown to the pawnbroker. The pawnbroker may detain the person offering or showing such property until the arrival of the police.
45. Authority to search pawnbroker’s premises
Any superior police officer and any police officer holding a written authority from a superior police officer specially authorising such officer to act under this Law may enter any pawnbroker’s shop at any time during business hours and may search without warrant the house, shop or premises of such pawnbroker for any articles that the officer may have reason to suspect to have been dishonestly obtained or dishonestly placed there.
46. Contracts not void on account of offences
Where a pawnbroker is guilty of an offence against this Law (not being an offence against the provisions of this Law relating to licences), any contract of pawn or other contract made by the pawnbroker, in relation to the business of pawnbroker, will nevertheless not be void by reason only of that offence, or will the pawnbroker by reason only of that offence lose the lien on or right to the pledge or to the loan and profit; but nothing in this section will restrict the operation of any provision of this Law providing for the delivery of any goods and chattels, or the restoration of any linen, apparel, unfinished goods, materials or article to the owner, under the order of a court.
47. Power to make regulations
The Commissioner may make regulations_
(a) for altering or adding to the for forms, rules and other provisions in the Schedules; and
(b) generally for the better carrying out of the provisions of this Law.
48. Interpretation
In this Law unless the context otherwise requires-
“pawnbrokers” includes every person who carries on the business of taking goods in pawn;
“pawner” means a person delivering an article for pawn to a pawnbroker;
“pledge” means an article pawned with a pawnbroker;
“shop” includes a dwelling-house and warehouse or other place of business, or place where business is transacted;
“unfinished goods or materials” includes, any goods of any manufacture or of any part or branch of any manufacture, either mixed or separate, or any plainly materials whatever intended for the composing or manufacturing of any goods, after such goods or materials are put into a state or course of manufacture, o, into-a state for any process or operation to be performed thereupon or therewith and before the same are completed or finished for the purpose of wear or consumption.
49. Citation and application
This Law may be cited as the pawnbrokers Law, and shall apply to such parts of the State as the Executive Council may by order direct.
FIRST SCHEDULE
FORMS
FORM NO.1
PLEDGE BOOK
………………………………………….of,……………………………… Pawnbroker
………………………………………….of,………………………………20………….
| Date of redemption | |
| Profit charged | |
| Amount of loan | |
| No. of pledge in the month | |
| Name of pawner | |
| Address of pawner | |
| Name of owner f other than pawner | |
| Address of owner if other than pawner | |
| List of articles pawned as described on pawn-tickets |
All entries in the last five columns respecting each pledge will be made on the day of the pawning, or within four (4) hours after the end of that day.
FORM NO.2
[s.10]
PAWN TICKET
A
For Loan of Two Hundred and Fifty Naira (N250.00) only or under
Pawned with [John Smith], pawnbroker,[………………………………………….. Street, Lagos,] this……………………………………………………………] day of
[……………………………………………….20………………] by [Henry Williams]
of [………………………………………………Street] for the sum of
[eighty kobo]
.
[One Black Frock Coat]
*The Pawnbroker is entitled to charge—
For this Ticket…………………………………………. Two Naira Fifty kobo (N2.50).
For profit on each Fifty Naira (N50.00) or part of Fifty Naira (N50.00) lent on this pledge for not more than one calendar month………………………..One half kobo.
And so on at the same rate per calendar month.
After the first calendar month any time not exceeding fourteen (r4) days will be charged as half a month, and any time exceeding fourteen (r4) days and not more than one month will be charged as one (l) month.
This pledge must be redeemed within twelve (r2) calendar months and seven (7) days from the date of pledging. At the end of that time it becomes the property of the pawnbrokers.
If the pledge is destroyed or damaged by tire the pawnbroker will be bound to pay the value of the pledge, after deducting the amount of the roan and profit, such value to be the amount of the loan and profit and 25 per cent on the amount or the loan.
If this ticket is lost, mislaid,. or stolen, the pawner should at once apply to the pawnbroker for a form of declaration to be made before a magistrate, or the pawnbroker will be bound to deliver the pledge to any person who produces this ticket to him and claims to redeem the same.
*The following is to be printed on the ticket on the front, or back, or partly on the front and back.
For Loan of above Two Hundred and Fifty Naira (H250.00) and not above One thousand Naira (N1,000.00).
Pawned with [John Smith], Pawnbroker, [……………………………………….. Street, Lagos,] this…………………………………………………………….] day of
[………………………………………………………….20……….] by [ Henry Williams]
of […………………………………………………..Street] for the sum [………] naira
[One Grey Tweed Coat]
*The Pawnbroker is entitled to charge—
For this Ticket……………………………………………Two Naira Fifty kobo (N2.50).
For profit on each Fifty Naira (N50.00) or part of Fifty Naira (N50.00) lent on this pledge for not more than one calendar Month ……………………… One half kobo.
And so on at the same rate per calendar month.
After the first calendar month any time not exceeding fourteen (14) days will be charged as half a month, and any time exceeding fourteen (14) days and not more than one month will be charged as one (1) month.
If this pledge is not redeemed within twelve 12) calendar months and seven (7) days from the day of pledging , it may be sold by auction by the pawnbroker, but it may be redeemed at any time before the day of sale.
Within three years after sale, the pawner may inspect the account of the sale in the pawnbroker’s books, on payment of Two Naira Fifty kobo (N2.50), and receive any surplus produced by the sale. But the deficit on sale of one pledge may be set off by the pawnbroker against surplus on another.
If the pledge is destroyed or damaged by fire the pawnbroker will be bound to pay the value of the pledge, after deducting the amount of the loan and profit, such value to be the amount of the loan and profit and 25 per cent on the amount of the loan.
If this ticket is lost or mislaid, the pawner should at once apply to the pawnbroker for a form of declaration to be made before a magistrate, or the piwnbroker will be bound to deliver the pledge to any person who produces this ticket to him and claims to redeem the same.
*The following is to be printed on the ticket on the front, or back, or partly on the front and back.
For Loan above One Thousand Naira (N1,000.00) only
Pawned with[John Smith], Pawnbroker, [………………………………………… Street, Lagos,]this……………………………………………………………] day of
[…………………………………………………………..20……]by [Henry Williams)
of […………………………………………….. . . Street] for the sum [……….]naira
[………….] kobo.
[One Suit of Clothes consisting of one Overcoat, one pair of Trousers, and one Vest]
*The Pawnbroker is entitled to charge-
For this Ticket…………………………………………Two Naira Fifty kobo (N2.50).
For profit on each Fifty Naira (N50.00) or part of Fifty Naira (N50.00) lent on this pledge for every calendar month or part of a calendar month …………..One half kobo.
If this pledge is not redeemed within twelve (12) calendar months and seven (7) days from the day of pledging, it may be sold by auction by the pawnbroker, but it may be redeemed at any time before the day of sale.
Within three years after sale the pawner may inspect the account of the sale in the pawnbroker’s books, on payment of Two Naira Fifty kobo (N2.50), and receive any surplus produced by the sale. But deficit on sale of one pledge may be set off by the pawnbroker against surplus on another.
If the pledge is destroyed or damaged by fire, the pawnbroker will be bound to pay the value of the pledge after deducting the amount of the loan and profit, such value to be the amount of the loan and profit and,25 per cent on the amount of the loan.
If this ticket is lost of mislaid the pawner should at one apply to the pawnbroker for a form of declaration to be made before a magistrate, or the pawnbroker will be bound to deliver the pledge to any person who produces this ticket to him and claims to redeem the same.
*The following is to be printed on the ticket on the front, or back, or partly on the front and back.
FORM NO.3
SALE BOOK OF PLEDGES FOR LOANS
[Date and place of sale]
[Name and place of business of Auctioneer]
| No. of pledge as in pledge book | Date of pawning | Name of pawner | Name of loan | Amounts for which pledge sold as stated by auctioneer |
FORM NO.4
DECLARATION WHERE PLEDGE CLAIMED BY OWNER
TAKE NOTICE if this declaration is false the person making it is punishable perjury. as for
Unless this printed form is taken before a magistrate, and declared to and signed and delivered back to the pawnbroker not later than the…………………. day of ………………………………………. 20………… the articles mentioned in it will be delivered to any person producing the pawnticket.
I, A . B., of…………………………………………………………………..in pursuance of the Pawnbrokers Law, do solemnly and sincerely declare that the article [or articles] described below is [or are] my property, and that I believe they are pledged at the shop of …………………………………the article [or articles] above referred to is [or are] the following—
And I, C.D., of ………………………………………………………..in pursuance of the said Law do solemnly and sincerely declare that I know the person now making the foregoing declaration to be A.B., of………………………………….
Declared before me this………………………..day of…………………….20………
(Signed)……………………………………….
Magistrate
FORM NO.5
DECLARATION WHERE PAWN-TICKET LOST
TAKE NOTICE if this declaration is false the person making it is punishable as for perjury.
Unless this printed form is taken before a magistrate, and declared to and signed and delivered back to the pawnbroker not later than the…………………… day of
…………………………20 . . . . . ., the articles mentioned in it will be delivered to any person producing the pawn-ticket.
I,A.B., of…. ………………………………………………………..,in pursuance
of the Pawnbrokers Law, do solemnly and sincerely declare that . . …………..
pledged at the shop of…………………………..pawnbroker, the article [or articles]
described below being …………………………..property and received a
pawn-ticket for the same, which has since been …………………………..
by…………………………..and that the pawn-ticket has not been sold or transferred to any person by…………………………..or to. …………………………..
knowledge or belief.
The article [or articles] above referred to is [or are] the following-
And I, C.D., of . ………………………….. …………………………..in pursuance
of the said Law do solemnly and sincerely declare that I know the person
foregoing declaration to be A.8., of …………………………………………………….
Declared before me this. …………………………..day of . …………………20…….
(Signed)
Magistrate
FORM NO.6
RECEIPT
[Date]………………………………….
Received on redemption of pledge No. ……………….
Amount of loan……………………………………………………………….
Profit . ……………………………………………………………………………………….
Total. . ………………………………………………………………………………………..
…………………………….[A.B]
Pawnbroker
SECOND SCHEDULE
PROFIT AND CHARGES ALLOWED TO PAWNBROKERS
PART I
PROFIT ON LOAN
On any loans made under this Law—
For any time during which the pledge remains in pawn, not exceeding one month, for every Fifty Naira (N50.00) or fractional part of Fifty Naira (N50.00) lent………………………… One half kobo
For every month after the first, including the current month in which the pledge is redeemed, although that month is not expired, for every fifty Naira (N50.00) or fractional part of \fifty Naira (N50.00) lent……………………………..One half kobo
PROVISO
In cases where the roan does not exceed Fifty Naira (N50.00) before the if the pledge is redeemed end of the first fourteen (14) days after the expiration of any month, the pawnbroker will in respect of those fourteen (r4) days or any period less than fourteen (14) days, be entitled to take half of the amount which- he would Le entitled to take for the whole month.
PART 2
CHARGE ON PAWN-TICKET
Where the loan is Two Hundred and
Fifty Naira (N250.00) or under or under…………………………. k1.00 (One kobo)
where the loan is above Two Hundred and
Fifty Naira (N250.00) ………………………………….Two Naira Fifty kobo (N2.50)
PART 3
Charge on Inspection of Sale Book
For the inspection of the entry of a sale…………….Two Naira Fifty kobo (N2.50)
PART 4
CHARGE ON FORM OF DECLARATION
where the loan is k50.00 (Fifty kobo) or under. . . . Two Naira Fifty kobo (N2.50)
where the loan is above k50.00 (Fifty kobo) . . . . . Two Naira Fifty kobo (N2.50)
RULE
This sum is to be paid by the applicant at the time of application.
THIRD SCHEDULE
[S.1S]
REGULATIONS AS TO AUCTIONS OR PLEDGES ABO\TE TWO
HUNDRED AND FIFTY NAIRA (N250.00) ONLY
1. The auctioneer must cause all pledges to be exposed to public view.
2. He must publish catalogues of the pledges stating_
(a) the pawnbroker’s name and place of business;
(b) the month in which each pledge was pawned; and
(c) the number of each pledge as entered at the time of pawning in the pledge book.
3. The pledges of each pawnbroker in the catalogue must be separate from any pledges of any other pawnbroker.
4. The auctioneer must insert in some public newspaper al advertisement giving notice of the sale, and stating-
(a) the pawnbroker’s name and place of business; and
(b) the months in which the pledges were pawned.
5. The advertisement must be inserted on two (2) several before the first day of sale. newspaper, and the second advertisement must be inserted at least three (3) clear days before the days in the same
6. Pictures, prints, books, bronzes, statues, busts, carvings in ivory and marble, cameos, intaglios, musical mathematical and philosophical instruments, and china, sold by auction, will be sold by themselves, and without any other goods being sold at the same sale, four (4) times only in every year (that is to say) in the months of January, April, July and October, and at no other time.
7. Where a pawnbroker bids at a sale the auctioneer must not take the bidding in any other form than that in which he takes the biddings of other persons at the same sale, and the auctioneer, on knocking down any article to a pawnbroker, must declare audibly the name of the pawnbroker as purchaser.
8. The auctioneer must, within fourteen (14) days pawnbroker after the sale, deliver to the a copy of the catalogue, or of so much there of as relates to the pledges of that pawnbroker, tilled up with the amounts for which the several pledges of that pawnbroker were sold. and authenticated by the signature of the auctioneer.
9. The pawnbroker must preserve every such catalogue for three (3) years at least after the auction.
FOURTH SCHEDULE
[S.36]
FORM OF CERTIFICATE OF MAGISTRATE
I, A.B . for the district of ……………………………..for the district of…………….
do hereby certify that I do-authorise the grant to C.D. of. to ………. of a licence carry on the business of a pawnbroker in the district of…………………………..
………………………..
Magistrate
FORM OF PAWNBROKER’S LICENCE
Licence is hereby granted to …………………………………….. to carry on the
Business of a pawnbroker at………………………………………………….in the
[Cap.p2.]
This licence is issued subject to the provisions of the pawnbrokers Law, and will expire on 31stDecember20……
DATED this.. ……………………………………day of…………………20………….
……………………………….
Licensing Officer
SUBSIDIARY LEGISLATION
APPLICATION OF THE LAW ORDER IN COUNCIL
under section I
The Law applied to all townships of the first and second class. (At time when this
Order was made Lagos was a first class township, the Law accordingly applies now to the City of Lagos).
[Order in Council 17 of 1917]
REGULATIONS
[F.& L. 1958, IX, 1698. 5.49]
1. Pawnbrokers’ licences will be issued in a Lagos Local Government Council by the Secretary to the Local Government Council.
2. For every pawnbrokers licence there will be paid a fee of Two Thousand Five Hundred Naira (N2,500.00).
| READ MORE | DOWNLOAD (PDF-N1500/WORD-2000) |
LAWS OF LAGOS STATE
LAWS OF THE FEDERAL REPUBLIC OF NIGERIA
