 The result of the select committee's work was the Pawnbrokers Act of 1872, which repealed, altered and consolidated all previous legislation and continues to regulates the relationship between the public and pawnbrokers.Based on an Irish law passed by the Union Parliament, it removed restrictions and reduced the licence fee in London from £15 to the £7.50 paid in the provinces.According to the act (which does not affect loans above £10),

Provisions in the act safeguard the interests of borrowers whose unredeemed pledges are sold.