114Application to buy a forfeited thing

114 Application to buy a forfeited thing

(1)  A person who owned any thing, or who had any legal or equitable interest in, any thing forfeited under this Act immediately before the forfeiture may apply to the Minister to buy it.

(2)  An application is to be –

(a) in writing; and

(b) made within 30 days after the forfeiture.

(3)  The Minister may –

(a) approve the application subject to any condition; or

(b) refuse to approve the application.

(4)  If the Minister approves the application, the Minister is to order the sale of the forfeited thing to the applicant on payment of an amount equal to its estimated market value.

(5)  [Section 114 Subsection (5) amended by No. 101 of 1999, Sched. 1, Applied:01 Mar 2000] Any proceeds of a sale are payable to the Director.