Disposal of stock removed from pastoral land otherwise than by or on behalf of lessee
11 Disposal of stock removed from pastoral land otherwise than by or on behalf of lessee
Where the Minister has, under section 42(1) of the Act, caused stock to be removed from pastoral land, the stock must be disposed of in accordance with a contract entered into by the Minister for its removal or on the open market by tender, auction or private treaty, and a person so acquiring the stock has good title to it free of encumbrance.
The proceeds of the disposal of stock under section 42(3) of the
Act are to be applied first, in meeting the expenses of its sale; and then in meeting the expenses incurred by the Minister in the work of destocking (including the reasonable costs incurred in transporting, holding and feeding the stock), with any amount remaining after the discharge of any registered mortgage of the stock being paid to the lessee.
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