68CEO may sell vested property

68 CEO may sell vested property (1) If the CEO is satisfied an estate or interest in property of any description (whether held solely or together with another person) of a beneficial nature and not merely held in trust, is vested in the CEO under section 67 or a corresponding previous law of the Territory, the CEO may sell or otherwise dispose of or deal with the estate or interest or all or part of it as the CEO considers (2) The CEO may sell or otherwise dispose of or deal with the property either solely or in concurrence with another person by public auction, public tender or private contract. (3) The CEO may: (a) sell or otherwise dispose of or deal with the property in the manner, for the consideration and on the terms and conditions the CEO considers appropriate; and (b) rescind a contract and resell or otherwise dispose of or deal with the property as the CEO considers appropriate; and (c) for paragraphs (a) and (b), make, execute, sign and give a contract, instrument or document, as the CEO considers (4) The CEO must be remunerated by the prescribed commission, which may be prescribed as a percentage or otherwise, in relation to the exercise of the powers conferred by subsection (1). (5) The CEO must: (a) pay the costs and expenses of and incidental to the exercise of a power under this section; and (b) make payments authorised by this section; out of money received by the CEO in the exercise of a power under this section and must pay the remainder of the money (if any) to the Treasurer. (6) The Treasurer must pay all money paid to the Treasurer under this section into the Northern Territory Government Account.

Associations Act 2003 47 (7) A person claiming to be entitled to an amount paid to the Treasurer under this section may apply to the Treasurer for the amount to be paid to the person. (8) On an application under subsection (7), if the Treasurer is satisfied that the applicant is entitled to an amount of money paid to the Treasurer under this section, the Treasurer must authorise the payment of that amount to the applicant. (8A) An amount authorised to be paid to the applicant under subsection (8) may be paid in any way the Treasurer considers (9) This section does not deprive a person of another right or remedy to which the person is entitled against another person.