sec.10Sale of unrecovered vehicles

sec.10 Sale of unrecovered vehicles

This section applies if the owner of a vehicle does not recover the vehicle within 2 months after being given a notice in relation to the vehicle under section 9 (4) or (5) . The corporation may sell the vehicle by public auction after publishing a notice of the auction— in a newspaper circulating generally in the State; and on the corporation’s website. The notice must— identify the vehicle; and state that the vehicle is to be sold by auction; and state how the owner may recover the vehicle before the auction; and state the time and place of the auction. The proceeds of sale must be applied in the following order— in payment of the reasonable expenses of the sale; in payment of the reasonable cost of seizing, removing and holding the vehicle; in payment of any balance as provided under subsection (6) or (7) . The corporation must retain the balance of the proceeds for 1 year after the sale. If the owner, within 1 year after the sale, asks the corporation to pay the balance of the proceeds to the owner, the corporation must pay to the owner— the balance of the proceeds; and interest on the balance of the proceeds, at the rate of 5% a year, for the period— starting on the day of the sale; and ending on the day the owner is paid the balance of the proceeds. If the owner does not, within 1 year after the sale, ask the corporation to pay the balance of the proceeds to the owner, the corporation must pay the balance of the proceeds, and any interest earned on the balance, into the consolidated fund. (sec.10-ssec.1) This section applies if the owner of a vehicle does not recover the vehicle within 2 months after being given a notice in relation to the vehicle under section 9 (4) or (5) . (sec.10-ssec.2) The corporation may sell the vehicle by public auction after publishing a notice of the auction— in a newspaper circulating generally in the State; and on the corporation’s website. (sec.10-ssec.3) The notice must— identify the vehicle; and state that the vehicle is to be sold by auction; and state how the owner may recover the vehicle before the auction; and state the time and place of the auction. (sec.10-ssec.4) The proceeds of sale must be applied in the following order— in payment of the reasonable expenses of the sale; in payment of the reasonable cost of seizing, removing and holding the vehicle; in payment of any balance as provided under subsection (6) or (7) . (sec.10-ssec.5) The corporation must retain the balance of the proceeds for 1 year after the sale. (sec.10-ssec.6) If the owner, within 1 year after the sale, asks the corporation to pay the balance of the proceeds to the owner, the corporation must pay to the owner— the balance of the proceeds; and interest on the balance of the proceeds, at the rate of 5% a year, for the period— starting on the day of the sale; and ending on the day the owner is paid the balance of the proceeds. (sec.10-ssec.7) If the owner does not, within 1 year after the sale, ask the corporation to pay the balance of the proceeds to the owner, the corporation must pay the balance of the proceeds, and any interest earned on the balance, into the consolidated fund.