Commonwealth Consolidated Acts Commonwealth Consolidated Acts
Where:
(a) property is forfeited to the Commonwealth under this Part;
(b) an interest in the property is required to be transferred to a
person (in this section called the purchaser ) under subsection 22(4) or
33(3), or under a direction under subparagraph 21(6)(d)(i), 23A(7)(d)(i) or
31(6)(d)(i);
(c) the purchaser’s interest in the property, immediately before
the forfeiture took place, was not the only interest in the property;
(d) the purchaser gives written notice to each other person who had an
interest in the property immediately before the forfeiture took place that:
(i) the purchaser intends to purchase that other interest from the
Commonwealth; and
(ii) the person served with the notice may, within 21 days after
receiving the notice, lodge a written objection to the purchase of that
interest with the Minister;
(e) the person served with notice under paragraph (d) in relation
to that interest does not lodge a written objection to the purchase of that
interest with the Minister within the period referred to in that paragraph;
and
(f) the person pays to the Commonwealth, while that interest is still
vested in the Commonwealth, an amount equal to the value of that interest;
the Minister shall arrange for that interest to be transferred to the
purchaser.