Pawnbrokers Act 1972 · Updated to 1 Jan 2006 · Part III · Pawning and Redemption
26. Disposal of unclaimed surplus
Feedback & supportIf no claim for the surplus is made within four months in accordance with subsection 25(2), the pawnbroker shall pay the surplus to the Accountant General within fourteen days after the expiration of that period of four months. Such payment shall be accompanied by a statement containing such particulars as may be prescribed by the Minister.
The Accountant General shall pay the amount paid under subsection (1) to the Consolidated Trust Account.
Consolidated Trust Account
“Consolidated Trust Account” means the Federal Consolidated Trust Account maintained pursuant to paragraph 7(c) of the Financial Procedure Act 1957;
Any unclaimed surplus paid to the Consolidated Trust Account
(to the extent to which it has under section 27 not been paid out of the Consolidated Trust Account) shall on the lapse of six years from the date of payment thereof to the Consolidated Trust Account, be paid into the Consolidated Revenue Account.
Consolidated Revenue Account
“Consolidated Revenue Account” means the Federal Consolidated Revenue Account maintained pursuant to paragraph 7(a) of the Financial Procedure Act 1957;
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Any pawnbroker who fails to pay any unclaimed surplus to the Accountant General commits an offence and shall on conviction be liable to a fine not exceeding five thousand ringgit and shall also be liable to a further fine of not less than one hundred ringgit and not more than two hundred ringgit for every day during which that failure continues after conviction.