South Australian Consolidated Acts

UNCLAIMED GOODS ACT 1987 - SECT 8

8—Proceeds of sale

        (1)         The proceeds of the sale of goods under this Act will be dealt with as follows:

            (a)         the bailee may retain from those proceeds—

                  (i)         the reasonable costs of the sale and of proceeding under this Act;

                  (ii)         the reasonable costs of storing and maintaining the goods prior to sale;

                  (iii)         the amount of any lien that the bailee had over the goods; and

            (b)         the balance will be paid to the Treasurer.

        (2)         Where the Treasurer is satisfied that a person had, prior to the sale, an interest in goods sold in pursuance of this Act, the Treasurer may pay to that person the whole or any part of the balance paid to the Treasurer in respect of the sale of those goods under subsection (1)(b).