sec.154KSale and disposal of seized thing with market value of more than $500

### sec.154K Sale and disposal of seized thing with market value of more than $500 This section applies to a seized thing, other than a dangerous seized thing, if— a seizure notice is given for the thing; and the owner of the thing does not claim it within the claim period for the thing; and the chief executive reasonably believes the thing has a market value of more than $500. The chief executive may sell the seized thing in the way the chief executive considers will best realise its market value. Before selling the seized thing, the chief executive must publish a notice on the department’s website— identifying the thing; and stating how and when it is to be sold. If the seized thing is not sold, the chief executive may dispose of it in the way the chief executive considers appropriate. s 154K ins 2022 No. 21 s 15 (sec.154K-ssec.1) This section applies to a seized thing, other than a dangerous seized thing, if— a seizure notice is given for the thing; and the owner of the thing does not claim it within the claim period for the thing; and the chief executive reasonably believes the thing has a market value of more than $500. (sec.154K-ssec.2) The chief executive may sell the seized thing in the way the chief executive considers will best realise its market value. (sec.154K-ssec.3) Before selling the seized thing, the chief executive must publish a notice on the department’s website— identifying the thing; and stating how and when it is to be sold. (sec.154K-ssec.4) If the seized thing is not sold, the chief executive may dispose of it in the way the chief executive considers appropriate. - (a) a seizure notice is given for the thing; and - (b) the owner of the thing does not claim it within the claim period for the thing; and - (c) the chief executive reasonably believes the thing has a market value of more than $500. - (a) identifying the thing; and - (b) stating how and when it is to be sold.