IMPOUNDING ACT 1993 - SECT 25 Proceeds of sale of impounded item

IMPOUNDING ACT 1993 - SECT 25

25 Proceeds of sale of impounded item

(1) An impounding authority holds the net proceeds of sale of an impounded item for the person who was the owner of the item immediately before its sale. The
"net proceeds of sale" are the proceeds (if any) remaining after deduction of the expenses of sale and the fees and charges payable in respect of the impounding, holding and disposing of the item.

(2) An application for payment of the net proceeds of sale may be made to the impounding authority at any time within 12 months after the item was sold.

(3) The authority must pay the net proceeds of sale to the applicant if satisfied that the applicant is entitled to the proceeds.

Note : The applicant need not be the owner.

(4) If no application is made within that 12 month period, the impounding authority may transfer the net proceeds of sale to such of its funds as it considers appropriate. The money then becomes the property of the authority.