New South Wales Repealed Regulations

This legislation has been repealed.

CRIMINAL ASSETS RECOVERY REGULATION 2000 - REG 7

7 Fees payable to Public Trustee

(1) For the purposes of section 19 of the Act, the fees which the Public Trustee is entitled to deduct from the proceeds of disposition of an interest in property of which the Public Trustee has taken control in accordance with a restraining order or which has vested in the Public Trustee on an assets forfeiture order are as follows:

(a) an amount equal to 2.5% of the value of the interest in the property as determined in accordance with subclause (2),

(b) an amount equal to the actual costs incurred and disbursements made in relation to the interest in the property by the Public Trustee,

(c) in the case of an interest in property from which income is derived, in addition to the fees set out in paragraphs (a) and (b), an amount equal to 5.25% of the gross income derived from the interest in the property.

(2) The value of the interest in the property referred to in subclause (1) (a) is the value determined by the Public Trustee or, if the interest is disposed of by sale, the gross amount realised on the sale.

(3) Costs and disbursements referred to in subclause (1) (b) include the costs of legal representation, the costs of obtaining legal advice or any other legal costs, agents' fees, valuation fees and the costs and expenses incurred in relation to the operation of any business associated with the interest in the property concerned.

(4) This clause does not prevent the Public Trustee from waiving or reducing a fee that the Public Trustee is entitled to deduct under this clause.

Note: Section 19 of the Act entitles the Public Trustee to deduct prescribed fees from the proceeds of disposition of property that is subject to a restraining order or an assets forfeiture order.