You require this licence to carry on the business of dealing in second-hand goods. You can either apply for a second-hand dealer licence, a pawnbroker licence or a combined licence. This licence is available to individuals, partnerships and corporations.
A second-hand dealer licence allows you to trade in second-hand goods by:
- acquiring them
- selling them
- disposing of them
- giving exchanges on them.
You will require a pawnbroker licence if you intend to take security of an item (known as pawn or pledge) from a person or lend a sum of money for a return of profit.