Victorian Current Acts

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Application of proceeds of sale

S. 84ZS(1) amended by No. 50/2012 s. 25.

    (1)     Where a motor vehicle or item or thing is sold under section 84ZR 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 impoundment or immobilisation;

S. 84ZS(c) amended by No. 76/2010 s. 32 (as amended by No. 32/2011 s. 6).

        (c)     to discharge any security interest over the motor vehicle, such as a bank loan or a lease arrangement, that existed immediately before the motor vehicle vested in the Crown or the forfeiture order took effect (as the case requires);

        (d)     to pay the registered operator of the motor vehicle if the motor vehicle was uncollected, or if the registered operator cannot be reasonably located, for payment into the Consolidated Fund;

        (e)     for payment into the Consolidated Fund if the motor vehicle was the subject of a forfeiture order.

S. 84ZS(2) inserted by No. 74/2010 s. 36(1).

    (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 Division.

Pt 6A Div. 5 Subdiv. 3 (Heading and ss 84ZT84ZX)
inserted by
No. 28/2009 s. 40.

Subdivision 3—Disposal of motor vehicles, items or things subject to disposal order

S. 84ZT inserted by No. 28/2009 s. 40.

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