New South Wales Consolidated Acts

MINING ACT 1992 - SECT 246

246 Sale of mining plant

(1) If mining plant is not duly removed under this Division, the Minister may direct that the mining plant be sold by public auction.

(2) Any mining plant remaining unsold after the public auction held may be sold by private treaty.

(3) The following amounts are to be deducted from the proceeds of any such sale:

(a) the costs of the sale and of any matter incidental to or connected with the sale,

(b) the costs of removing from the land concerned any mining plant remaining unsold after the public auction,

(c) any amount owing in respect of compensation for compensable loss within the meaning of Division 1 of Part 13,

(d) any other amount that the Director-General certifies to be a deductible amount.

(4) Any balance remaining is to be paid to the Chief Commissioner of Unclaimed Money as unclaimed money, and section 10 (2) and Part 4 of the Unclaimed Money Act 1995 apply to the balance so paid as they would have applied had the balance been paid to the Chief Commissioner under section 10 of that Act.

(5) If the proceeds of sale are less than the amounts to be deducted, the proceeds are to be applied in meeting those amounts in such manner as the Minister directs.