14Proceeds of sale of property—the Act, s 32

14 Proceeds of sale of property—the Act, s 32

14 Proceeds of sale of property—the Act, s 32

(1) For the Act, section 32(6), an authority may keep the following from the proceeds of sale of property—

(a) an amount equal to the costs incurred in selling the property,

(b) an amount equal to a fee payable for the exercise of a function in relation to the property by an authorised officer appointed by the authority.

Note—

See the Act, section 55.

(2) An owner of property sold by an authority may claim the proceeds of sale, other than the amounts specified in subsection (1), within the following time periods after the sale—

(a) for a class 1 item or a class 2 item—3 months,

(b) for a class 3 item or an animal—6 months.

(3) If a claim is not made within the period specified in subsection (2), the authority may keep the remaining proceeds of sale.