(a) No later than the expiration of the foregoing 15-day period, the Police Commissioner may issue a second hold notice to the scrap metals dealer which shall be an extended hold notice, which shall operate as follows:
(b) The extended hold notice shall be in writing, shall be delivered to the scrap metals dealer or recycler, shall specifically identify those items of regulated metals property that are believed to have been stolen and that are subject to the extended hold notice, and shall inform the scrap metals dealer or recycler of the information contained in this section; and
(c) Upon receipt of the extended hold notice issued in accordance with this section, the scrap metals dealer or recycler receiving the extended hold notice may not process or remove the items of regulated metals property identified in the notice, or any portion thereof, from the place of business of the scrap metals dealer or recycler for 30 calendar days after receipt of the extended hold notice by the scrap metals dealer or recycler, unless sooner released by the Police Commissioner.
(d) At the expiration of the hold period or, if extended in accordance with this section, at the expiration of the extended hold period, the hold is automatically released and the scrap metals dealer or recycler may dispose of the regulated metals property unless other disposition has been ordered by a court of competent jurisdiction.