Queensland Consolidated Acts Queensland Consolidated Acts(1) This section applies if the trustee forfeits the lease and, under a mortgage of the lease, an amount is owing to a mortgagee of the lease by the person who was the lessee.
(2) The trustee must pay to the mortgagee--
(a) if the amount that may be deducted from the maximum amount under section 40V(d) is less than the difference between the maximum amount and the amounts deducted under section 40V(a), (b) or (c)--the amount that may be deducted from the maximum amount under section 40V(d); or
(b) otherwise--the amount equal to the difference between the maximum amount and the amounts deducted under section 40V(a), (b) or (c).
(3) The trustee must pay the amount payable under subsection (2) to the mortgagee--
(a) if no appeal is made under this subdivision against the decision under section 40T about the amount payable to the person who was the lessee--within 28 days after the time for making an appeal ends; or
(b) if an appeal is made under this subdivision against the decision mentioned in paragraph (a)--within 28 days after the appeal is finally decided.
(4) If the trustee pays an amount to the mortgagee in relation to a mortgage of the lease, the mortgagee must use the amount in discharge of the mortgage.