sec.220Application of proceeds to satisfy order

### sec.220 Application of proceeds to satisfy order Proceeds realised by the public trustee from the property or the disposal of the property must be applied as follows— first, in payment of fees or charges payable to the public trustee under section 223 ; second, in payment of expenses incurred by the public trustee in disposing of the property; third, in payment to the consolidated fund of the amount stated in the order of the relevant court under section 219 (1) ; fourth, if the relevant court makes an order of a kind mentioned in section 219 (3) (c) , in payment of any remainder to the person specified by the relevant court; fifth, in payment of any remainder to the person who appears to the public trustee to be entitled to the remainder of the proceeds. For subsection (1) , proceeds realised from the disposal of the property means the proceeds that remain after all registered or statutory encumbrances over the property have been discharged. The interest of the public trustee in the proceeds realised from the property or the disposal of the property is declared to be a statutory interest to which section 73 (2) of the Personal Property Securities Act 2009 (Cwlth) applies. s 220 amd 2004 No. 43 s 40 ; 2010 No. 44 s 174 (sec.220-ssec.1) Proceeds realised by the public trustee from the property or the disposal of the property must be applied as follows— first, in payment of fees or charges payable to the public trustee under section 223 ; second, in payment of expenses incurred by the public trustee in disposing of the property; third, in payment to the consolidated fund of the amount stated in the order of the relevant court under section 219 (1) ; fourth, if the relevant court makes an order of a kind mentioned in section 219 (3) (c) , in payment of any remainder to the person specified by the relevant court; fifth, in payment of any remainder to the person who appears to the public trustee to be entitled to the remainder of the proceeds. (sec.220-ssec.2) For subsection (1) , proceeds realised from the disposal of the property means the proceeds that remain after all registered or statutory encumbrances over the property have been discharged. (sec.220-ssec.3) The interest of the public trustee in the proceeds realised from the property or the disposal of the property is declared to be a statutory interest to which section 73 (2) of the Personal Property Securities Act 2009 (Cwlth) applies. - (a) first, in payment of fees or charges payable to the public trustee under section 223 ; - (b) second, in payment of expenses incurred by the public trustee in disposing of the property; - (c) third, in payment to the consolidated fund of the amount stated in the order of the relevant court under section 219 (1) ; - (d) fourth, if the relevant court makes an order of a kind mentioned in section 219 (3) (c) , in payment of any remainder to the person specified by the relevant court; - (e) fifth, in payment of any remainder to the person who appears to the public trustee to be entitled to the remainder of the proceeds.