3. What are the requirements to qualify for a licence?

3. What are the requirements to qualify for a licence?

According to the Pawnbrokers Ordinance (Cap. 166), a licence will only be granted by the Hong Kong Police if it is satisfied that:

1. The applicant is a fit and proper person to carry on business as a pawnbroker; 
2. The applicant has complied with the provisions of the Pawnbrokers Ordinance (Cap. 166) and any applicable regulations, including the Pawnbrokers Regulations (Cap. 166A); and 
3. The grant of such licence is not contrary to public interest. 

The conditions to which a licence is subject are as follows:

1. If the pawnbroker has reasonable cause to suspect that any property being offered or delivered to him in pawn is stolen property and provided it is reasonably safe for him to do so, he should apprehend the person offering the property and take possession of the property so offered. The pawnbroker should then immediately inform the nearest police station. 
2. During the continuance of its licence, the pawnbroker should not carry on any trade or occupation at its place of business other than that of a pawnbroker and of the sale of goods that have become the property of the pawnbroker in accordance with the Pawnbrokers Ordinance (Cap. 166). 
3. The pawnbroker should ensure the word “Pawnbroker” and the character “押” is added after the English name and Chinese name respectively of the pawnbroker’s name or its business’ name and over the door of its place of business. The English word and the Chinese character should be large and legible. 
4. The pawnbroker should maintain, in a conspicuous place at its place of business, a clearly legible sign in both English and Chinese stating:

• The maximum interest rate that may be demanded on loans as specified in the Second Schedule to the Pawnbrokers Ordinance (Cap. 166)  (currently at 3.5% per month); and 
• That the liability of the pawnbroker for any loss or damage shall not exceed the sum specified in the First Schedule to the Pawnbrokers Ordinance (Cap. 166) (currently HK$100,000) in respect of any one article pawned in accordance with section 22 of the Pawnbrokers Ordinance (Cap. 166). The sum must be set out in figures. 

The Commissioner of Police may cancel or refuse to renew a licence at any time if:

1. He is satisfied that a false or misleading statement or information was made or provided in connection with an application to obtain or renew the licence; 
2. The person to whom a licence is granted is convicted of an offence under the Pawnbrokers Ordinance (Cap. 166) or any relevant regulations; 
3. A condition of the licence is contravened; 
4. In his opinion the licensee has ceased to be a fit and proper person to carry on business as a pawnbroker; or
5. In his opinion the public interest so requires. 

If the Commissioner of Police refuses an application, he must advise the applicant of the reasons for his decision.