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State of Karnataka - Section

Section 4A in The Karnataka Pawnbrokers Act, 1961

4A. Conditions of licence.—

(1)Every person making an application for grant of a licence under section 4 shall, at the time of making such application, pay security deposit as provided under sub-section (2) and in the case of an application for renewal of such licence the security deposit shall be paid two months before the expiry of such licence.
(2)Every licensee specified in column (1) of the Table below shall in the prescribed manner deposit in the Government Treasury the amount specified in the corresponding entry in column (2) of the said Table by way of security for the due observance of the conditions of the licence.TABLE
1 2
A licensee who 1invests less than one lakh rupees in a year Five thousand rupees
A licensee who invests one lakh rupees and above but less than five lakh rupees in a year Ten thousand rupees
A licensee who invests five lakh rupees and above but less than ten lakh rupees in a year Twenty five thousand rupees
A licensee who invests1 ten lakh rupees and above in a year Fifty thousand rupees
(3)For the purposes of sub-section (2), the amount of security payable by a licensee in a year shall be determined on the basis of the amount invested by him in the business during the previous year and such security deposit shall not carry any interest.Provided ***Provided further that in the case of a new licensee or a person who has a licence only for a portion of the preceeding year the amount of security shall be determined on the basis of a declaration in the prescribed form as to the amount which he is likely to invest during the year.