sec.42ALocal law about seizing and disposing of personal property

### sec.42A Local law about seizing and disposing of personal property This section applies if— the council has made a local law about seizing and disposing of personal property; and personal property is seized under the local law. If the personal property is sold or disposed of, the proceeds of sale or disposal must be applied in the following order— in payment of the reasonable expenses incurred in selling or disposing of the property; in payment of the prescribed fee for seizing and holding the property; if there is an amount owing to an entity under a security interest registered for the property under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest; the balance to the owner of the property. A secured party can not enforce any security interest in the proceeds of sale or disposal against an entity to whom an amount is payable under subsection (2) (a) or (b) . In this section— personal property has the meaning given by the Personal Property Securities Act 2009 (Cwlth) , section 10 . secured party has the meaning given by the Personal Property Securities Act 2009 (Cwlth) , section 10 . s 42A ins 2010 No. 44 s 160 (sec.42A-ssec.1) This section applies if— the council has made a local law about seizing and disposing of personal property; and personal property is seized under the local law. (sec.42A-ssec.2) If the personal property is sold or disposed of, the proceeds of sale or disposal must be applied in the following order— in payment of the reasonable expenses incurred in selling or disposing of the property; in payment of the prescribed fee for seizing and holding the property; if there is an amount owing to an entity under a security interest registered for the property under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest; the balance to the owner of the property. (sec.42A-ssec.3) A secured party can not enforce any security interest in the proceeds of sale or disposal against an entity to whom an amount is payable under subsection (2) (a) or (b) . (sec.42A-ssec.4) In this section— personal property has the meaning given by the Personal Property Securities Act 2009 (Cwlth) , section 10 . secured party has the meaning given by the Personal Property Securities Act 2009 (Cwlth) , section 10 . - (a) the council has made a local law about seizing and disposing of personal property; and - (b) personal property is seized under the local law. - (a) in payment of the reasonable expenses incurred in selling or disposing of the property; - (b) in payment of the prescribed fee for seizing and holding the property; - (c) if there is an amount owing to an entity under a security interest registered for the property under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest; - (d) the balance to the owner of the property.