You will need a licence if you intend to operate as a pawnbroker or second-hand dealer.
Pawnbrokers lend money to people on the security of their pawned goods and can sell the goods if the loan is not repaid within the agreed duration of the loan.
Second-hand dealers buy, sell, or exchange second-hand goods. Second-hand goods are goods that have already been worn or used and can include:
- copper alloys
- audio equipment
- electrical appliances
- marine equipment.
You can apply for a licence as a pawnbroker only, second-hand dealer only or both combined.
You will need to apply for a licence:
- as an individual, but you can hold that licence on behalf of a company or a partnership.
- for each premises you intend to operate.