22
CurrentHigh value uncollected goods
Part 3Disposal of uncollected goods after due notice to depositor
22 High value uncollected goods
(1)
This section applies to uncollected goods with a value of at least $20,000 (high value uncollected goods).
(2)
A receiver must not dispose of high value uncollected goods otherwise than in accordance with an order of the Tribunal.
Maximum penalty—200 penalty units.
(3)
A receiver may apply to the Tribunal for an order specifying the way in which the uncollected goods are to be disposed of.
(4)
The receiver may move or store high value uncollected goods in an appropriate manner.
This Act’s bill:Explanatory memorandumSecond reading speech
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