sec.18Disposal of certain abandoned property

### sec.18 Disposal of certain abandoned property This section applies if any property— is found on a building or other place occupied by the theatre company; 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 theatre company may sell the property by public auction. If the theatre company 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 theatre company in performing its functions. Despite subsection (2) , if the theatre company considers on reasonable grounds that, because of the property’s value, it is not viable to sell it, the theatre company may dispose of the property in another way. Despite subsection (2) , if the theatre company 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 theatre company may cause it to be destroyed. s 18 sub 1997 No. 79 s 68 amd 2010 No. 44 s 214 (sec.18-ssec.1) This section applies if any property— is found on a building or other place occupied by the theatre company; 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.18-ssec.2) The theatre company may sell the property by public auction. (sec.18-ssec.2A) If the theatre company 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 theatre company in performing its functions. (sec.18-ssec.3) Despite subsection (2) , if the theatre company considers on reasonable grounds that, because of the property’s value, it is not viable to sell it, the theatre company may dispose of the property in another way. (sec.18-ssec.4) Despite subsection (2) , if the theatre company 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 theatre company may cause it to be destroyed. - (a) is found on a building or other place occupied by the theatre company; 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 theatre company in performing its functions.