Seizure and sale order—amounts received
2223 Seizure and sale order—amounts received
An enforcement officer must pay to the registrar all proceeds of sale and other amounts received by the enforcement officer under a seizure and sale order.
From the amounts received from the enforcement officer, the registrar must—
pay the enforcement officer’s fees and costs of enforcement (including any costs of valuing and advertising property); and
pay any balance, up to the amount recoverable under the seizure and sale order, to the enforcement creditor; and
pay any remaining balance to the enforcement debtor.
If the enforcement officer receives seizure and sale orders in relation to more than 1 enforcement creditor, the enforcement creditors must be paid from the proceeds of sale in the order in which the seizure and sale orders were received by the enforcement officer.
The registrar must give the enforcement debtor and enforcement creditor an account showing how the amounts received have been paid.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.