39Disposal of objects by the Commonwealth

39 Disposal of objects by the Commonwealth

(1) This section applies in relation to: (a) an object that is the subject of a retrieval notice where subsection (3) applies; and (b) an object covered by paragraph 38(1)(b) that has been removed and placed in storage. (2) The object becomes property owned by the Commonwealth, and the Minister may sell or dispose of the object as the Minister thinks fit. (3) This subsection applies if the person to whom the retrieval notice is given does not, within 20 business days after the notice is given: (a) pay to the Commonwealth any amount specified in the notice; and (b) collect the object from the place where it is stored. (4) If the object is sold by the Commonwealth, the proceeds of the sale must be applied as follows: (a) first, in repaying to the Commonwealth: (i) the amount (if any) specified in the retrieval notice (if any); and (ii) the expenses of the sale; (b) then, if the object was the subject of a retrieval notice—the balance, if any, to the person to whom the retrieval notice was given.