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← Pawnbrokers Act 2015

Pawnbrokers Act 2015 s 54

s 54 Time for redeeming pledge

54.—(1) A pledge can be redeemed —(a) at any time during the redemption period; and (b) at any time after the end of the redemption period but before the pledge is forfeited. (2) Subject to subsection (3), the redemption period is 6 months after the date on which the pledge was made, or any longer period that the parties may agree in the loan agreement or in a subsequent agreement. (3) Where the redemption period under subsection (2) ends on a day when the pawnbroker is closed for business —(a) the redemption period is extended to the next day the pawnbroker is open for business; and (b) the pawnbroker must not charge any further profit or fee if a pledge is redeemed on the day mentioned in paragraph (a).

Read this section in the full act → · Open Division 2 →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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