If:
(a) a thing has been seized under a * search warrant, or under section 251, on the ground that a person believes on reasonable grounds that it is * tainted property; and
(b) an application is made for a * restraining order or a * forfeiture order that would cover the thing; and
(c) the application is refused; and
(d) at the time when the application is refused, the thing is in the possession of the * responsible custodian;
the * responsible custodian must arrange for the thing to be returned to the person from whose possession it was seized as soon as practicable after the refusal.