(a) No trader and no employee or other person acting for the trader shall melt, vulcanize, or otherwise destroy or change the identity of or dispose of any item described in section 310 of this subchapter and received by the trader until a period of ten (10) days shall have elapsed after the date of submission of the report required by subsection (a) of section 312 of this subchapter.
(b) Where the trader finds that the ten- (10-) day waiting period constitutes a burden, he may contact the U.S. Virgin Islands Police Department (V.I.P.D.) by telephone and notify an official designated by the Chief of Police of his need to act. Upon inspection of the item by a local police officer, or if a forty-eight- (48-) hour period has lapsed after such notification, the trader may dispose of or alter the item.