Milestones

What is this about?

We are seeking feedback on the draft Pawnbrokers and Second-hand Dealers Regulation 2020, which will replace the existing Pawnbrokers and Second-hand Dealers Regulation 2015 that is being automatically repealed on 1 September 2020.

The Regulation supports the Pawnbrokers and Second-hand Dealers Act 1996. Changes to the Act are not part of this consultation.

The Act aims to limit traffic in stolen goods, help NSW Police combat property theft, and protect consumers who pawn goods.

What are the changes?

The draft Regulation keeps many of the current rules but includes updates that:

• simplify the list of ‘second-hand goods’ and exclude items from the list
• simplify how notices are displayed
• exclude all recycling programs and rubbish collection programs
• increase the value thresholds to allow for inflation
• reduce the time to report information to NSW Police
• remove fee waivers for partnerships
• phase out electronic record keeping exemptions
• reduce the incidence of stolen goods being traded.

Next steps

Read the Regulatory Impact Statement and then complete the online form below. The Regulatory Impact Statement explains the changes in more detail and its expected impacts.  You can also read the draft Regulation.

Once the consultation period has ended, we will consider the submissions received. The Regulation will be amended, if needed, to address the issues raised.

If we need more information, we will consult with targeted stakeholders before finalising the Regulation.

If you do not want your submission to be published online, please indicate this clearly in your submission. Even if you say that you do not want us to publish it, we may be required to by law. All submissions will be sent to the Legislation Review Committee of Parliament.