Application of proceeds of sale
123R Application of proceeds of sale
This section applies if the commissioner decides to sell a vehicle under section 123Q.
The proceeds of the sale are to be applied in the following order—
in payment of the expenses of the sale;
in payment of other reasonable costs incurred by the State in dealing with the vehicle after it is no longer required for investigative or evidentiary purposes, including, for example, the costs of storing the vehicle and giving the seizure notice and forfeiture notice;
if there is an amount owing to a person under a security interest registered for the vehicle under the Personal Property Securities Act 2009 (Cwlth)—in payment of the amount owing to the holder of the security interest;
in payment of any balance to the consolidated fund.
This Act’s bill:Explanatory memorandum
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