Pawnbrokers Act, 1964

Unredeemed pledges.

29.—(1) Except in the case of a pledge made up wholly or partly of gold, silver or other precious metal or of any precious or semiprecious stone, a pledge pawned for a sum not exceeding two pounds shall, if not redeemed within the redemption period (including the seven days referred to in subsection (3) of section 21), become the pawnbroker's absolute property.

(2) A pledge pawned for a sum exceeding two pounds or made up wholly or partly of gold, silver or other precious metal or of any precious or semi-precious stone may, if not redeemed within the redemption period, be disposed of by the pawnbroker by sale by public auction held in accordance with this Act, but not otherwise.