s 51 Sections 48, 49 and 50 to apply, with modifications, to agreement to extend redemption period
51.—(1) Where the redemption period for a pledge is extended by agreement, sections 48, 49 and 50 apply as if the pledge is offered to be pawned for the first time, subject to the modifications in subsections (2) to (5). (2) The pawnbroker must cancel the original pawn ticket. (3) The new pawn ticket issued by the pawnbroker must state the profit due at the date of the agreement to extend the redemption period, in addition to the particulars required under section 49(2). (4) The rights and obligations under the original agreement to pawn the goods are deemed to have merged in the agreement to extend the redemption period. (5) Where the pawnbroker fails to give a valuation in accordance with section 48(1), or purports to take any profit or charge any fee contrary to section 50(1) —(a) the validity of the agreement to extend the redemption period is not thereby affected; but (b) the pawnbroker is not entitled to take any profit on the loan in respect of the extended redemption period.