Basic definition of theft
THE basic definition of theft according to Section 1, Theft Act 1968, Bill Ridgeway tells us.
(1) A person is guilty of theft if he dishonestly appropriates property belonging to another with the intention of permanently depriving the other of it; and thief and steal shall be construed accordingly.
(2) It is immaterial whether the appropriation is made with a view to gain, or is made for the thiefs own benefit.
(3) The five following sections of this Act shall have effect as regards the interpretation and operation of this section (and, except as otherwise provided by this Act, shall apply only for purposes of this section).
Found on the towpath
It used to be the practice that, for instance, if you found property on the towing path you would hand it in to a police station. In doing so you could not be deemed to have stolen the item and were complying with 1TA68.
Nowadays, however, police do not take in lost property. The consequence is that either you keep it or dump it either way you have technically committed an offence. 'Finders keepers' is not a legal defence but how is this dilemma to be resolved?
ADDITION:
Since submitting the above, Bill has discovered that the Metropolitan Police advise:
The item I found in a public place is valuable. Thank you. Please make reasonable enquiries to find the owner, these could include asking people nearby or in offices or shops. You could also consider leaving a note with your details. If you can't find the owner, take the item to a local police station or call 101.
The item I've found is of low value or can't be directly identified to a person. Thank you. You don't need to report this to us. Please make reasonable enquiries to try to find the owner, these could include asking people nearby or in offices or shops. You could also consider leaving a note with your details. If you can't find the owner there's nothing more we can do and you should dispose of the item.
Responsibility of the finder
So it is the responsibility of the finder to make enquiries to find the owner and to make a subjective decision as to the value of the property (and how does an ordinary person value, say, jewellery). In monetary terms £100 may be a lot to some people and not a lot to others. It is a license to keep whatever is found—but, perhaps, morally wrong.