sch.1-sec.11Application of proceeds of sale

sch.1-sec.11 Application of proceeds of sale

The proceeds of the sale must be applied in the following order— in payment of the reasonable expenses incurred in the sale; in payment of the reasonable cost of seizing, removing and holding the vehicle; if there is an amount owing to an entity under a security interest registered for the vehicle under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest; in payment of any balance to the owner. Compensation is not recoverable against the university for a payment under this section. sch 1 s 11 amd 2010 No. 44 s 84 (sch.1-sec.11-ssec.1) The proceeds of the sale must be applied in the following order— in payment of the reasonable expenses incurred in the sale; in payment of the reasonable cost of seizing, removing and holding the vehicle; if there is an amount owing to an entity under a security interest registered for the vehicle under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest; in payment of any balance to the owner. (sch.1-sec.11-ssec.2) Compensation is not recoverable against the university for a payment under this section.

• (a) in payment of the reasonable expenses incurred in the sale;
• (b) in payment of the reasonable cost of seizing, removing and holding the vehicle;
• (c) if there is an amount owing to an entity under a security interest registered for the vehicle under the Personal Property Securities Act 2009 (Cwlth) —in payment of the amount owing under the security interest;
• (d) in payment of any balance to the owner.