New South Wales Consolidated Acts

CRIMINAL ASSETS RECOVERY ACT 1990 - SECT 14

14 Supreme Court may order sale

(1) If an application is made for an assets forfeiture order, the Supreme Court may, when the application is made or at a later time, make an order directing the NSW Trustee and Guardian to sell an interest in property that is subject to the application for the assets forfeiture order if:

(a) the property is subject to waste or substantial loss of value, or

(b) in the opinion of the NSW Trustee and Guardian, the cost of controlling the interest would exceed the value of the interest if the assets forfeiture order were made.

(2) Notice of an application for an order under this section must be given to the owner of the interest in property to which the application relates.

(3) The proceeds of the sale under subsection (1) of an interest in property are subject to the restraining order to which the interest was subject.