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Secondhand Dealers and Pawnbrokers Act 2004

Obligations of licence holders, promoters, and Internet auction providers - Obligations of licensed pawnbrokers - Records and verification of identity

52: Verifying identity of pledgers

You could also call this:

"Pawnbrokers must check who you are when you give them something"

Illustration for Secondhand Dealers and Pawnbrokers Act 2004

When you give something to a pawnbroker as a pledge, they must check who you are. They can do this by looking at your identification or knowing you personally. If they know you, they must make sure the details they have about you are correct. If a pawnbroker knows you, but their records have wrong details, it is like they made a mistake on purpose. They can also use other methods to check your identity, as long as they are allowed to do so. You must be who you say you are when you give something to a pawnbroker.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM305629.

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Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
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51: Pawnbrokers record, or

"Pawnbrokers must keep a record of goods they lend money on."

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53: Storage of pawnbrokers record, or

"Keeping Pawnbrokers' Records Safe and Available"

Part 3Obligations of licence holders, promoters, and Internet auction providers
Obligations of licensed pawnbrokers: Records and verification of identity

52Verifying identity of pledgers

  1. A licensed pawnbroker must verify the identity of every pledger from whom he or she accepts a pledge.

  2. A pledger’s identity may be verified for the purpose of subsection (1)—

  3. by sighting the person’s authorised identification; or
    1. by personal knowledge, in which case if any details about the person that are recorded in the pawnbroker’s pawnbrokers record are incorrect, the pawnbroker is regarded as having made a false entry without reasonable excuse in his or her pawnbrokers record; or
      1. by any other prescribed method.