132Proceeds of sales of vehicles seized under section 79 of the Act

#### 132 Proceeds of sales of vehicles seized under section 79 of the Act 132 Proceeds of sales of vehicles seized under section 79 of the Act (cf 2007 reg cl 88) > > (1) For the purposes of section 79(7) of the Act, if a forfeited vehicle is sold in accordance with this Division, Transport for NSW holds the net proceeds of sale (if any) of the vehicle for the person who was the owner of the vehicle immediately before its sale. > > > (2) An application for payment of the net proceeds of sale may be made to Transport for NSW at any time within 12 months after the forfeited vehicle was sold. > > > (3) Transport for NSW must pay the net proceeds of sale to the applicant if satisfied that the applicant is entitled to the proceeds. > > > (4) If no application is made within that 12 month period, Transport for NSW may transfer the net proceeds of sale to any of its funds that it considers appropriate. The money then becomes the property of Transport for NSW. > > > (5) In this clause— > > > > net proceeds of sale means the proceeds (if any) of a sale of a forfeited vehicle remaining after deduction of— > > > > > (a) the expenses of sale and the fees and charges payable for a vehicle that has been taken into possession, held and disposed of under the [Public Spaces (Unattended Property) Act 2021](/view/html/inforce/current/act-2021-038), and > > > > > (b) the fees, charges, taxes and fine, that Transport for NSW could have allowed under section 79(5) of the Act for the waiver of the forfeiture. > > **cl 132:** Am 2024 No 82, Sch 4.10\[1\] \[2\].