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Homes (Sale of Mortgages) Act 1993
7Proceeds of sale
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7 Proceeds of sale
(1) [Section 7 Subsection (1) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] The proceeds of a sale under this Part are to be paid into an account established in the Public Account and, after discharge of the liabilities of the State in respect of those proceeds, are to be applied in retirement of State debt.
(2) There may be deducted from the proceeds of sale before payment as required by subsection (1) such amount as the Treasurer approves to meet the expenses reasonably incurred in connection with the sale.