Secondhand Dealers and Pawnbrokers Act 2004

Obligations of licence holders, promoters, and Internet auction providers - Obligations of licensed pawnbrokers - Pawnbroking

59: Pledge tickets

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"What is a pledge ticket and how does it help you get your goods back from a pawnbroker?"

Illustration for Secondhand Dealers and Pawnbrokers Act 2004

When you give something to a pawnbroker, they must give you a pledge ticket. The pledge ticket must have your name and the address where you can get your goods back. It must also show other important information, including a summary of your rights and the pawnbroker's obligations, as stated in section 51(2)(b) to (h). When you want to get your goods back, you must show the pledge ticket to the pawnbroker. The pawnbroker can assume you are the owner of the goods if you have the pledge ticket, unless someone proves otherwise. If you lose your pledge ticket, the pawnbroker must give you a new one if they are sure you are the owner of the goods or are acting for the owner.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM305637.

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Part 3Obligations of licence holders, promoters, and Internet auction providers
Obligations of licensed pawnbrokers: Pawnbroking

59Pledge tickets

  1. At the time when a pledger gives possession of pawned goods to a licensed pawnbroker, the pawnbroker must give the pledger a pledge ticket for the goods.

  2. If a form of pledge ticket is prescribed, the pledge ticket must be in that form; but in any case every pledge ticket must show—

  3. the name of the pledger; and
    1. the address at which the pawned goods may be redeemed; and
      1. the matters set out in section 51(2)(b) to (h); and
        1. a summary of the rights of pledgers and the obligations of pawnbrokers under the pledge, as provided in this Act.
          1. The pledger must produce the pledge ticket to the licensed pawnbroker if he or she wishes to redeem the pawned goods.

          2. A licensed pawnbroker is entitled, in the absence of proof to the contrary, to assume that the holder of a pledge ticket is in fact the pledger of the goods identified on the ticket.

          3. A licensed pawnbroker must issue a replacement pledge ticket if satisfied that the person seeking the replacement ticket is in fact the pledger, or agent of the pledger, of the pawned goods to which it relates.

          Compare
          • 1908 No 141 ss 19, 21, 22