(1) The Competent Authority shall publish a notice in the Gazette inviting claimants to prefer claims to the article sent to him by the police under section 14 within a period of one year from the date of publication of such notice.
(2) Nothing contained in sub-section (1) shall prevent the Competent Authority from disposing of any perishable articles, which come into his possession, at any time, either before or after the publication of the notice under sub-section (1).
(3) The article referred to in sub-section (2) shall be sold in public auction in such manner as prescribed, and the proceeds of the sale shall be handed over to the rightful claimants after deducting the expenses of the sale or credited to the Government treasury, if no claim is preferred within the period specified in sub-section (1).