Section 23
Pledges not redeemed within time
If any pledge shall not have been redeemed before the expiration of six months from the date of pawning, or of such longer period as may have been agreed between a pawnbroker and the pawner, or as may have been required in accordance with section 19, the pledge—
(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.