s 65 Consequences if pawnbroker purports to realise security interest other than by forfeiture
65.—(1) Where a pawnbroker purports to realise the pawnbroker’s security interest in a pledge other than by forfeiture under section 61 —(a) if the value of the pledge exceeds the loan and profit secured by the pledge, the pawnbroker is liable to the person entitled to redeem the pledge for the surplus; (b) if the value of the pledge is equal to or less than the total amount of the loan and profit secured by the pledge, the loan and profit are extinguished; and (c) the pawnbroker does not thereby acquire any property in the pledge. (2) For the purposes of subsection (1), the value of the pledge is the value as determined by the valuation provided under section 48(1) when the pawnbroker first took possession of the pledge.