(1) This section applies in relation to:
(a) a firearm or firearm related item that has been surrendered or seized under this Part; and
(b) the firearm or firearm related item:
(i) is not required or is no longer required under section 49Z(2); or
(ii) has not been forfeited to the Territory under section 49Z(3); or
(iii) has been declared not subject to forfeiture under section 49Z(4
(2) The Commissioner may:
(a) by written notice, direct the owner of the firearm or firearm related item to sell or otherwise dispose of the firearm or firearm related item; or
(b) by written notice, direct the owner of the firearm or firearm related item to take possession of the firearm or firearm related item; or
(c) dispose of the firearm or firearm related item in the manner the Commissioner determines.
(3) If the owner of a firearm does not comply with a direction under subsection (2)(a) or (b) within 28 days after the direction is given or any further time that the Commissioner specifies in the notice, the Commissioner may dispose of the firearm or firearm related item in accordance with section 166 of the Police Administration Act 1978 as if the firearm or firearm related item was unclaimed property.
(4) The Regulations may prescribe fees that are payable in relation to the storage of a firearm or firearm related item by the Commissioner prior to the owner taking possession of the firearm or firearm related item.