New South Wales Consolidated Acts
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LOCAL GOVERNMENT ACT 1993 - SECT 719
What if the purchase money is less than the amounts owing?
719 What if the purchase money is less than the amounts owing?
If the
purchase money is insufficient to satisfy all rates, charges and debts
referred to in section 718(b)--
(a) the amount available is to be divided
between the rates, charges and debts in proportion to the amounts owing on
each, and
(b) the rates, charges and debts are taken to have been fully
satisfied.
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