sec.262BWhen amount held for sale of lot or proposed lot may be paid

### sec.262B When amount held for sale of lot or proposed lot may be paid This section applies if the law practice considers that a person is entitled to an amount mentioned in section 262A (1) (a) . The law practice may give all persons having an interest in the amount a written notice to the following effect— the practice considers that a stated person is entitled to the amount; the practice is authorised, under this Act, to pay the amount to the stated person on or after a stated date (at least 60 days after the notice is given) unless— a proceeding disputing the stated person’s entitlement to the amount is started and the practice is advised of the start of the proceeding; or all persons having an interest in the amount authorise payment of the amount to the stated person before the stated date. The practice may pay the amount to the stated person if— after the stated date, the law practice is unaware of the start of a proceeding claiming an entitlement to the amount; or on or before the stated date, the law practice receives written notice under subsection (2) (b) (ii) authorising payment of the amount to the stated person. The practice does not contravene section 249 by disbursing trust money as provided under this section. The practice is not liable civilly or under an administrative process in relation to the payment of the amount as provided under this section if it is subsequently found that the stated person was not entitled to the amount. To remove any doubt, it is declared that this section— provides a process for the payment of an amount mentioned in section 262A (1) (a) ; and does not decide legal entitlement to the amount or prevent a person legally entitled to the amount recovering it from the person to whom it was paid. Nothing in this section requires the practice to give notice under subsection (2) if the practice decides to retain the amount until payment of the amount is authorised by all persons having an interest in the amount or entitlement to the amount is decided by the court. s 262B ins 2014 No. 46 s 59 (sec.262B-ssec.1) This section applies if the law practice considers that a person is entitled to an amount mentioned in section 262A (1) (a) . (sec.262B-ssec.2) The law practice may give all persons having an interest in the amount a written notice to the following effect— the practice considers that a stated person is entitled to the amount; the practice is authorised, under this Act, to pay the amount to the stated person on or after a stated date (at least 60 days after the notice is given) unless— a proceeding disputing the stated person’s entitlement to the amount is started and the practice is advised of the start of the proceeding; or all persons having an interest in the amount authorise payment of the amount to the stated person before the stated date. (sec.262B-ssec.3) The practice may pay the amount to the stated person if— after the stated date, the law practice is unaware of the start of a proceeding claiming an entitlement to the amount; or on or before the stated date, the law practice receives written notice under subsection (2) (b) (ii) authorising payment of the amount to the stated person. (sec.262B-ssec.4) The practice does not contravene section 249 by disbursing trust money as provided under this section. (sec.262B-ssec.5) The practice is not liable civilly or under an administrative process in relation to the payment of the amount as provided under this section if it is subsequently found that the stated person was not entitled to the amount. (sec.262B-ssec.6) To remove any doubt, it is declared that this section— provides a process for the payment of an amount mentioned in section 262A (1) (a) ; and does not decide legal entitlement to the amount or prevent a person legally entitled to the amount recovering it from the person to whom it was paid. (sec.262B-ssec.7) Nothing in this section requires the practice to give notice under subsection (2) if the practice decides to retain the amount until payment of the amount is authorised by all persons having an interest in the amount or entitlement to the amount is decided by the court. - (a) the practice considers that a stated person is entitled to the amount; - (b) the practice is authorised, under this Act, to pay the amount to the stated person on or after a stated date (at least 60 days after the notice is given) unless— (i) a proceeding disputing the stated person’s entitlement to the amount is started and the practice is advised of the start of the proceeding; or (ii) all persons having an interest in the amount authorise payment of the amount to the stated person before the stated date. - (i) a proceeding disputing the stated person’s entitlement to the amount is started and the practice is advised of the start of the proceeding; or - (ii) all persons having an interest in the amount authorise payment of the amount to the stated person before the stated date. - (i) a proceeding disputing the stated person’s entitlement to the amount is started and the practice is advised of the start of the proceeding; or - (ii) all persons having an interest in the amount authorise payment of the amount to the stated person before the stated date. - (a) after the stated date, the law practice is unaware of the start of a proceeding claiming an entitlement to the amount; or - (b) on or before the stated date, the law practice receives written notice under subsection (2) (b) (ii) authorising payment of the amount to the stated person. - (a) provides a process for the payment of an amount mentioned in section 262A (1) (a) ; and - (b) does not decide legal entitlement to the amount or prevent a person legally entitled to the amount recovering it from the person to whom it was paid.