sec.19Disposal of certain abandoned property

### sec.19 Disposal of certain abandoned property This section applies if any property, other than property to which section 18 applies— is found in the centre; and there are reasonable grounds for suspecting the property has been abandoned by the person who last used it; and the property is unclaimed after 4 months. The trust may sell the property by public auction. If the trust sells the property, the proceeds of sale must be applied in the following order— in payment of the reasonable expenses incurred in storing and selling the property; if there is an amount owing to an entity under a security interest registered for the property under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest; the balance to be used by the trust in performing its functions. Despite subsection (2) , if the trust considers on reasonable grounds that, because of the property’s value, it is not viable to sell it, the trust may dispose of the property in another way. Despite subsection (2) , if the trust considers on reasonable grounds that the property is in a dangerous condition or unfit for use for the purpose for which it was intended to be used, the trust may cause it to be destroyed. s 19 ins 1997 No. 79 s 55 amd 2003 No. 66 s 27 ; 2010 No. 44 s 211 (sec.19-ssec.1) This section applies if any property, other than property to which section 18 applies— is found in the centre; and there are reasonable grounds for suspecting the property has been abandoned by the person who last used it; and the property is unclaimed after 4 months. (sec.19-ssec.2) The trust may sell the property by public auction. (sec.19-ssec.2A) If the trust sells the property, the proceeds of sale must be applied in the following order— in payment of the reasonable expenses incurred in storing and selling the property; if there is an amount owing to an entity under a security interest registered for the property under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest; the balance to be used by the trust in performing its functions. (sec.19-ssec.3) Despite subsection (2) , if the trust considers on reasonable grounds that, because of the property’s value, it is not viable to sell it, the trust may dispose of the property in another way. (sec.19-ssec.4) Despite subsection (2) , if the trust considers on reasonable grounds that the property is in a dangerous condition or unfit for use for the purpose for which it was intended to be used, the trust may cause it to be destroyed. - (a) is found in the centre; and - (b) there are reasonable grounds for suspecting the property has been abandoned by the person who last used it; and - (c) the property is unclaimed after 4 months. - (a) in payment of the reasonable expenses incurred in storing and selling the property; - (b) if there is an amount owing to an entity under a security interest registered for the property under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest; - (c) the balance to be used by the trust in performing its functions.