Australian Capital Territory Current Regulations Australian Capital Territory Current Regulations(1) This rule applies if personal property subject to a seizure and sale order is in the enforcement debtor's possession and is also subject to a conditional bill of sale.
(2) An enforcement officer may sell the enforcement debtor's interest in the property without taking possession of it.
(3) On receiving written notice that a person (the purchaser ) has purchased the interest, the person having the benefit of the bill of sale (the holder of the bill ) may take possession of the property.
(4) If the holder of the bill takes possession of the property, the holder is taken to hold it for the use of the purchaser, subject to the purchaser's payment of any amounts payable under the bill of sale.
(5) If the property is later sold under the bill of sale and any surplus remains from the proceeds of sale after the debt to the holder of the bill is satisfied, the holder must pay the surplus to the purchaser.
(6) This rule does not affect the right of the enforcement creditor to test the validity of the bill of sale by interpleader.