New South Wales Consolidated Regulations

ROAD TRANSPORT (VEHICLE REGISTRATION) REGULATION 2007 - REG 88

88 Proceeds of sales of vehicles seized under section 27 of the Act

(1) For the purposes of section 27 (7) of the Act, if a forfeited vehicle is sold in accordance with this Division, the Authority holds the net proceeds of sale (if any) of the vehicle for the person who was the owner of the vehicle immediately before its sale.

(2) An application for payment of the net proceeds of sale may be made to the Authority at any time within 12 months after the forfeited vehicle 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.

(4) If no application is made within that 12 month period, the 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.

(5) In this clause:
"net proceeds of sale" means the proceeds (if any) of a sale of a forfeited vehicle remaining after deduction of:

(a) the expenses of sale, and

(b) the fees, charges, taxes and fine, that the Authority could have allowed under section 27 (5) of the Act for the waiver of the forfeiture.