Section 26. Police officers to take charge of unclaimed property, and be subject to Magistrate’s orders as to disposal.

(1) It shall be the duty of every Police officer to take charge of all unclaimed or ownerless property, and to prepare and furnish an inventory thereof to the District Magistrate or the Sub-Divisional Magistrate or 1[other Executive Magistrate] of the 1st class having jurisdiction, empowered by 2[the Government] in this behalf. (2) Such inventory shall, if possible, be prepared when the Police officer takes charge of such property in the presence of two respectable persons of the locality.