Pawnshops that have been licensed or have registered prior to the enforcement of this Act shall prepare the original license to apply to the local competent authority for license renewal within two years after the effective date. Their registered capital and liability insurance shall comply with the provisions as prescribed in this Act.
Failure to comply with the provisions prescribed in the preceding paragraph shall be subject to revocation of the license previously issued.
Provisions promulgated herein in this Act shall apply to public pawn institutions that have been established by respective municipal governments prior to the effective date of this Act. Any additional establishment of public pawn institutions shall not be allowed.
The public pawn institutions as prescribed in the preceding paragraph shall be responsible for all profits and losses and shall not cover the costs of personnel, business operation, and rent with government budgets

The fees for issuance, renewal and reissue of a pawnshop’s license shall be determined by the national competent authority.

The formats of various forms prescribed herein are to be regulated by the national competent authority.

This Act shall come into force from the date of promulgation.
The effective date of the amended articles of this Act on November 07, 2008 shall be determined by the Executive Yuan.