Disposal of movable property found in a public place.

(1) Any movable property which is found in a public place, and the owner of which is not known, shall be the property of the finder as against everyone except the true owner.

(2) If, the finder so desires he may handover, any movable property so found, to the officer incharge of the nearest police station who shall retain the same in his custody and shall at once furnish a report regarding such property together with an inventory thereof to the Chief Metropolitan Magistrate in the metropolitan area of Hyderabad and elsewhere, to the Judicial Magistrate of the first class having jurisdiction.

(3) On receipt of a report under sub-section (2), the Magistrate concerned shall make such order as he thinks fit respecting the disposal of such property or the delivery of such property to the person entitled to the possession thereof as if it were a property taken over by the Police under section 51 of the Code of Criminal Procedure, 1973.

Explanation.- For purposes of this section, the term moveable property does not include the treasure as defined in clause (b) of section 3 of the Indian Treasure Trove Act, 1878.