To prevent dust or residual liquids from entering components and a drive system in a binding machine when a band is pulled back during the fastening of the band.

A volume reducing and packing apparatus for waste plastic is such that a compressed mass pushed out via a conveying path after waste plastic is integrally compressed and reduced in volume by a pressing machine is tightly bound with a resin band by a binding machine. The volume reducing and packing apparatus is provided with a detachable means for receiving a band, released from a band guide, at a position a predetermined distance away from the surface of the compressed mass. This means is located in an area between the first corner and the subsequent, second corner of the four corners of the band guide surrounding an area in the vicinity of the exit end of the conveying path in the form an approximately square frame, the first corner being located the shortest fastening distance along the band guide from a drive mechanism used at least for drawing and fastening the band. The position of the band that first comes into contact with the surface of the compressed mass when the band is fastened to the receiving means with the compressed mass attached thereto is located closer to the band guide than the drive mechanism when the band is tightly fastened with the compressed mass detached from the receiving means.