Western Australian Current Acts

CRIMINAL PROPERTY CONFISCATION ACT 2000 - SECT 152

152 .         Term used: value (in relation to property sold by or for the State)

        (1)         If property is sold by or for the State under this Act, the value of the property is taken to be equal to the proceeds of the sale after taking account of the following —

            (a)         costs, charges and expenses arising from the sale;

            (b)         if a freezing notice or freezing order is or was in force for the property — expenses incurred by the State or a person appointed to manage the property while the notice or order was in force;

            (c)         if the property has been confiscated — any expenses incurred by the State or a person appointed to manage the property after it was confiscated;

            (d)         any charges on the property.

        (2)         If the property is subject to a mortgage which is also security against other property then, despite any other enactment and any inconsistent term of the mortgage, the extent of the security over the sold property is the proportion that the value of the sold property bore to the total value of all the secured property at the time that the security over the sold property was given.