Victorian Current Acts

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Application of proceeds of sale

    (1)     If a motor vehicle or item is sold under section 101 the proceeds of sale are to be applied in the following order of priority—

        (a)     to pay the costs of the sale;

        (b)     to pay any costs of detention, immobilisation, seizure or impoundment under this Part;

        (c)     to discharge any security interest over the motor vehicle;

S. 104(d) amended by No. 9/2008 s. 27(1).

        (d)     to pay the amount outstanding under the infringement warrant or warrants, as the case requires;

        (e)     to pay any amount remaining to—

              (i)     the registered operator; or

              (ii)     if the registered operator is not entitled to the amount, any other person entitled, at the time the motor vehicle was detained or immobilised, to possession of the motor vehicle; or

S. 104(e)(iii) amended by No. 44/2008 s. 112.

              (iii)     if the persons referred to in subparagraphs (i) or (ii) cannot be located after reasonable inquiries, deal with the balance in accordance with the Unclaimed Money Act 2008 .

S. 104(2) inserted by No. 74/2010 s. 33.

    (2)     Section 73(2) of the Personal Property Securities Act 2009 of the Commonwealth applies to an interest arising out of the operation of this Part.

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