Queensland Numbered Acts

PERSONAL PROPERTY SECURITIES (ANCILLARY PROVISIONS) ACT 2010 No. 44 - SECT 207

Section 21--

insert--

'(2A) If the board sells the property, the proceeds of sale must be applied in the following order--

(a) in payment of the reasonable expenses incurred in storing and selling the property;

(b) if there is an amount owing to an entity under a security interest registered for the property under the Personal Property Securities Act 2009 (Cwlth)--in payment of the amount owing under the security interest;

(c) the balance to be used by the board in performing its functions.'.