(1)  The period for redemption of any goods taken in pawn is to be 6 months or such longer period as may be agreed by the parties at the expiration of which period the goods are to be forfeited and may be sold.

(2)  A pawnbroker who sells or otherwise disposes of any goods before the expiration of the period provided for redemption under subsection (1) is guilty of an offence and is liable on summary conviction to a fine not exceeding 10 penalty units.

(3)  A pawnbroker who proposes to sell goods forfeited under subsection (1) must, unless the goods do not exceed in value such amount as may be prescribed –

(a) cause those goods to be sold by auction; and

(b) at least 14 days before the sale, give notice in writing of the sale by certified post to the person who would have been entitled to redeem the goods; and

(c) keep a record of the sale in the prescribed form.

(4)  Where the proceeds of a sale pursuant to subsection (1) exceed the amount owing to the pawnbroker under the contract of pawn, the balance of those proceeds is recoverable from the pawnbroker as a debt in a court of competent jurisdiction by the person who would have been entitled to redeem the goods.

(5)  Where –

(a) the proceeds of a sale pursuant to subsection (1) exceed the amount owing to the pawnbroker under the contract of pawn; and

(b) on demand within the prescribed period by the person who would have been entitled to redeem the goods, the pawnbroker fails to pay the balance of the proceeds to that person –

the pawnbroker is guilty of an offence and is liable on summary conviction to a fine not exceeding 10 penalty units.

(6)  A conviction under subsection (2) or (5) does not limit any civil liability of the person convicted to the owner of the goods or any other person who would have been entitled to redeem them.