Part VIII Security
Pledges
120 Consequence of failure to redeem. C1
1
If at the end of the redemption period the pawn has not been redeemed—
a
b
in any other case the pawn becomes realisable by the pawnee.
2
Where the debtor or hirer is entitled to apply to the court for a time order under section 129, subsection (1) shall apply with the substitution, for “at the end of the redemption period ” of “after the expiry of five days following the end of the redemption period ”.