32Notice of, and proceeds of, sale of property

#### 32 Notice of, and proceeds of, sale of property (1) For the purposes of disposal of property by public auction, under regulations 30 and 31, the Commissioner must publish a notice of the proposed sale of unclaimed property by public auction: (a) at least 7 days before the expected date of the auction; and (b) in a daily newspaper circulating generally in the State or Territory in which the auction is to be held. (2) The proceeds of the sale constitute public money within the meaning of the Financial Management and Accountability Act 1997. (3) After disposal of the property under regulation 30 or 31, a person who has an interest in the property before the disposal has no right of action against the Commonwealth in relation to that interest. > Note: See the Financial Management and Accountability Act 1997 for how public money is dealt with.