The Rules of Pawnshops will be Changed
OREANDA-NEWS. The State Duma introduced a government bill on the work of pawnshops. The document is published in the electronic database of the lower house of the Russian parliament.
The document notes that the size of the maximum loan should not exceed the estimated value of the pledged thing. Also increases by 10 times the minimum cost of things that a pawnshop can sell only at open auction.
The draft law provides for an extension of the pawnshop work time by three hours - until 23:00. Now pawnshops can work from 8:00 to 20:00.
The document also proposes to regulate the procedure for admitting pawnshops to the financial market. The bill proposes to establish that a legal entity acquires the status of a pawnshop from the day the Central Bank makes information about it in the state register of pawnshops, and also loses this status from the moment it is removed from this registry.