Commonwealth Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

FEDERAL CIRCUIT COURT RULES 2001 - RULE 25B.29

Conditions of sale of property

             (1)  This rule applies to the sale by an enforcement officer of property seized under an Enforcement Warrant.

             (2)  The enforcement officer must specify as a condition of the sale of the property that the buyer:

                     (a)  must pay:

                              (i)  a deposit of at least 10% of the price fixed for the property when the buyer's offer for the property is accepted by the enforcement officer; and

                             (ii)  the balance of that price within the period determined by the enforcement officer; or

                     (b)  must pay the whole of the price fixed for the property when the enforcement officer accepts the buyer's offer for the property.

             (3)  The period mentioned in subparagraph (2)(a)(ii) must:

                     (a)  be determined before the property is offered for sale; and

                     (b)  be a period of no longer than 42 days.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback