Malaysia legislation
Section 23
Section 23
(a)
if pawned for a sum not exceeding two hundred ringgit shall become the property of the pawnbroker; or
(b)
if pawned for a sum exceeding two hundred ringgit shall when disposed of by the pawnbroker be disposed of by sale by auction to be conducted by a licensed auctioneer.
(2)
A pawnbroker may bid for and purchase at a sale by auction under this section a pledge pawned with him; and on such purchase he shall be deemed the absolute owner of the pledge purchased.
(3)
A pawnbroker shall send to the Registrar on the first day of every calendar month a list in the prescribed form together with such number of copies as the Registrar may require showing the result of the sales of the pledges during the preceding month. The
Registrar shall keep the list affixed at his office and such public places as he may deem necessary for three months.
(4)
Any person who contravenes subsection (3) commits an offence.
Right of holder of pawn-ticket to inspect sale book