The object of the Act is to authorise and regulate the disposal of goods which are accepted in the course of business for inspection, custody, storage, repair or other treatment, but which are not re-delivered.
The Act applies to goods in situations where the owner/bailor has failed to pay certain charges relating to the goods or fails to take delivery of the goods. In certain cases the person who has possession of the goods can then sell the goods.
The Act prescribes the procedure for sale in such cases which may involve the serving and publishing of notices and the application for a court order, depending on whether there is a dispute or not.
There is specific legislation relating to the disposal of:
goods held by a pawnbroker (Second Hand Dealers and Pawnbrokers Act 2003, Part4):
goods left by a tenant (Residential Tenancies Act 1994);
goods left by a resident of a retirement village (Retirement Villages Act 1999).