sec.786Application of proceeds of sale

### sec.786 Application of proceeds of sale This section applies if the commissioner decides to sell a motor vehicle under section 783 or 785 . The proceeds of the sale are to be applied in the following order— in payment of the expenses of the sale; in payment of the costs of removing and keeping the motor vehicle and for searching registers for giving notice of the motor vehicle’s impounding; if there is an amount owing to a person under a security interest registered for the motor vehicle under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing to the holder of the security interest; if the motor vehicle is sold under section 783 —in payment of any balance to the owner; if the motor vehicle is sold under section 785 —in payment to the consolidated fund. s 786 ins 2006 No. 26 s 79 amd 2010 No. 44 s 196 (sec.786-ssec.1) This section applies if the commissioner decides to sell a motor vehicle under section 783 or 785 . (sec.786-ssec.2) The proceeds of the sale are to be applied in the following order— in payment of the expenses of the sale; in payment of the costs of removing and keeping the motor vehicle and for searching registers for giving notice of the motor vehicle’s impounding; if there is an amount owing to a person under a security interest registered for the motor vehicle under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing to the holder of the security interest; if the motor vehicle is sold under section 783 —in payment of any balance to the owner; if the motor vehicle is sold under section 785 —in payment to the consolidated fund. - (a) in payment of the expenses of the sale; - (b) in payment of the costs of removing and keeping the motor vehicle and for searching registers for giving notice of the motor vehicle’s impounding; - (c) if there is an amount owing to a person under a security interest registered for the motor vehicle under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing to the holder of the security interest; - (d) if the motor vehicle is sold under section 783 —in payment of any balance to the owner; - (e) if the motor vehicle is sold under section 785 —in payment to the consolidated fund.