Section 6: Interest and charges allowed to pawnbrokers

The Puducherry Pawnbrokers Act, 1966Union territory Act of Puducherry · Act 11 of 1966

*[(1) Notwithstanding anything contained in the Decree dated 22nd September, 1935, no pawn broker shall charge interest in respect of a loan on a pledge at a rate exceeding such rate as the State Government may, by notification, fix from time to time:

Provided that the rate of interest, as may be fixed by the State Government, shall be correlated to the current bank rates of lending, as may be fixed by the Reserve Bank of India, from time to time.]

(2) A pawnbroker may demand and take from the pawner such charges and in such cases as may be prescribed.

(3) A pawnbroker shall not demand or take from the pawner any profit, interest, charge or sum whatsoever, other than the interest due to him and the charges, if any, referred to in sub-section (2).

Where this provision sits

Act	The Puducherry Pawnbrokers Act, 1966
Section	6
Marginal note	Interest and charges allowed to pawnbrokers
Jurisdiction	Union territory of Puducherry
Status	In force as published by the source

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