204
In forceLandholder or subsidiary may recover proceeds of sale as debt
Chapter 3Landholder duty and corporate trustee duty
Part 1Landholder duty
Division 7Enforcement
Subdivision 2Power of sale
204 Landholder or subsidiary may recover proceeds of sale as debt
(1)
The amount equal to the proceeds of the sale of land under the order less an amount paid under section 202(d) is a debt payable to the entity or subsidiary that previously owned the land by the persons liable to pay the landholder duty for which the order was made.
(2)
The entity or subsidiary may recover the debt in a court of competent jurisdiction.
This Act’s bill:Explanatory memorandum
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