Victorian Consolidated Legislation

Confiscation Act 1997 - SECT 57

Buying out other interests in forfeited property

57. Buying out other interests in forfeited property



(1) If property is forfeited to the Minister under Part 3 or Part 4, any
person who claims to have had an interest in the property immediately before
it was forfeited may apply in writing to the Minister to buy out any other
interest in the property.

(2) An applicant must give written notice to each other person whom the
applicant has reason to believe had an interest in the property immediately
before it was forfeited that-

   (a)  the applicant wishes to purchase that other interest from the
        Minister; and



   (b)  the person notified may, within 28 days after receiving the notice,
        lodge a written objection to the purchase of that interest with the
        Minister.

(3) If the Minister is satisfied that-

   (a)  an interest in the property was vested in the applicant immediately
        before the forfeiture; and

   (b)  the interest that the applicant wishes to purchase is still vested in
        the Minister; and





   (c)  there is no reason why the interest should not be sold to the
        applicant-

the Minister may make a declaration of the value (as at the time of making the
declaration) of the interest and notify the applicant accordingly.

(4) If-

   (a)  a person notified under subsection (2) does not lodge a written
        objection to the purchase of the person's interest with the Minister
        within the period referred to in that subsection; and

   (b)  within 6 months after being notified of the amount payable under
        subsection (3) the applicant pays to the Minister the amount so
        notified-

the Minister must transfer that interest to the applicant and the forfeiture
is discharged to the extent to which it relates to the interest.

(5) If the Minister is permitted by this section to transfer an interest in
property to a person, the Minister or a prescribed person authorised by the
Minister for the purposes of this subsection has power to do, or authorise the
doing of, anything necessary or convenient to effect the transfer, including,
but not limited to, the execution of any instrument and the making of an
application for registration of an interest in the property on any appropriate
register.

(6) A determination or purported determination of the Minister under this
section is not liable to be challenged, appealed against, reviewed, quashed or
called in question in any court or tribunal on any account.

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