475U

Proceeds from the sale of removed watercraft

In force

(1)

If watercraft is sold under section 475T(2), the proceeds of the sale must be applied—

(a)

first, in payment of the expenses of removal of the watercraft reasonably incurred by the chief executive or Gold Coast Waterways Authority in selling the watercraft; and

(b)

second, in payment of any balance to the watercraft’s owner.

(2)

If the proceeds of the sale are less than the total of the expenses mentioned in subsection (1)(a), the difference is a debt owing by the owner to the State.

(3)

Compensation may not be recovered against the State in relation to a payment under this section.

(4)

In this section—

expenses of removal, of a watercraft, include expenses of—

(a)

removing and detaining the watercraft; and

(b)

giving notice under section 475S; and

(c)

advertising for sale or other disposal of the watercraft; and

(d)

selling or otherwise disposing of the watercraft.

watercraft includes anything in, on or attached to the watercraft.

This Act’s bill:Explanatory memorandum

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