sec.35Application of proceeds of disposal

sec.35 Application of proceeds of disposal

This section applies— for the purposes of section 566 (b) of the Law; and subject to sections 564 (5) and 565 (8) and (9) of the Law. The proceeds of the disposal of a thing or sample under Division 3 of Part 9.4 of the Law are to be applied in payment of— first—the Regulator’s expenses— of disposal, including of retention for disposal; and of searching any register for a relevant purpose, including to give notice of forfeiture or to find out if any action has to be taken in relation to the register; and second, if there is an amount owing to the holder of a registered interest—the amount owing to the holder; and last—the balance to the person who was the owner of the thing or sample before it became the property of the Regulator. (sec.35-ssec.1) This section applies— for the purposes of section 566 (b) of the Law; and subject to sections 564 (5) and 565 (8) and (9) of the Law. (sec.35-ssec.2) The proceeds of the disposal of a thing or sample under Division 3 of Part 9.4 of the Law are to be applied in payment of— first—the Regulator’s expenses— of disposal, including of retention for disposal; and of searching any register for a relevant purpose, including to give notice of forfeiture or to find out if any action has to be taken in relation to the register; and second, if there is an amount owing to the holder of a registered interest—the amount owing to the holder; and last—the balance to the person who was the owner of the thing or sample before it became the property of the Regulator.

• (a) for the purposes of section 566 (b) of the Law; and
• (b) subject to sections 564 (5) and 565 (8) and (9) of the Law.
• (a) first—the Regulator’s expenses— (i) of disposal, including of retention for disposal; and (ii) of searching any register for a relevant purpose, including to give notice of forfeiture or to find out if any action has to be taken in relation to the register; and
• (i) of disposal, including of retention for disposal; and
• (ii) of searching any register for a relevant purpose, including to give notice of forfeiture or to find out if any action has to be taken in relation to the register; and
• (b) second, if there is an amount owing to the holder of a registered interest—the amount owing to the holder; and
• (c) last—the balance to the person who was the owner of the thing or sample before it became the property of the Regulator.
• (i) of disposal, including of retention for disposal; and
• (ii) of searching any register for a relevant purpose, including to give notice of forfeiture or to find out if any action has to be taken in relation to the register; and