UNCLAIMED PROPERTY ACT - 1969 (NLCD 371)
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Where such article is a firearm, arm, ammunition, explosive, gunpowder, munitions of war or offensive weapon of any description or any article similar to any of the foregoing, or consists of precious stones or precious metal, a senior officer of the premises in or upon which it has been left or found shall cause it to be handed to the officer in charge of the nearest police station.
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(1) In all other cases, a senior officer of the premises in or upon which an article has been left or found shall post a notice conspicuously outside the building which he administers specifying the article left or found upon such premises or land belonging thereto.
(2) Where the article remains unclaimed after the notice has been posted for one month it shall be sold by public auction.
(3) Where no auctioneer is readily available, the senior officer or any person appointed by him for the purpose may lawfully hold the auction, any law to the contrary notwithstanding.
(4) After deducting the expenses of sale the senior officer shall cause the balance to be paid to the Controller and Accountant-General.
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If any person who was or appears to the Controller and Accountant-General to have been the owner of an article previous to the sale applies to the Controller and Accountant-General within one year after the sale, the Controller and Accountant-General shall pay the sum received by him to such person.
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The senior officer of any Government premises in or upon which an article has been left or found shall keep a written record of every such article, specifying the manner in which it was disposed of, and if sold the amount realised by the sale and the expenses incurred.
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