36Disposal of abandoned property

36 Disposal of abandoned property

(1) The Trust may dispose of property removed under regulation 35 after the expiry of the claim period for the property if, within that period, the costs of removal and storage of the property have not been paid.

(2) In subregulation (1):

claim period, for property removed under regulation 35, means 1 month from:

(a) the day on which the owner is informed of the removal of the property; or

(b) the later of:

(i) if the owner cannot be contacted — the day on which the property was removed; or

(ii) if the owner cannot be identified — the day on which an advertisement mentioned in subregulation 35 (3) was published.

(3) The Trust must, as soon as practicable after the end of the financial year in which the Trust sells property under this regulation, give to the Commonwealth the proceeds of the sale, less the reasonable cost of moving, storing and disposing of the property.

Division 3.3 Orders