(1)At the time he receives the article, a person who takes any article in pawn under a regulated agreement shall give to the person from whom he receives it a receipt in the prescribed form (a “pawn-receipt ”).
(2)A person who takes any article in pawn from an individual whom he knows to be, or who appears to be and is, a minor commits an offence.
(3)This section and sections [F1117] to 122 do not apply to—
(a)a pledge of documents of title [F2or of bearer bonds], or
(b)a non-commercial agreement.
Textual Amendments
F1Word in s. 114(3) substituted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2)(6), 20(36)
F2Words inserted by Banking Act 1979 (c. 37, SIF 10), s. 38(2)
Modifications etc. (not altering text)
C1S. 114 excluded by Banking Act 1979 (c. 37, SIF 10), s. 38(2)