Document ID: chunk:federal_register_of_legislation:C2024C00506:section:31
Version: federal_register_of_legislation:C2024C00506
Segment Type: section
Provision Reference: s 31
Character Range: 31217–32352

31  Return of unclaimed resale royalty
 (1) If:
 (a) resale royalty is paid to the collecting society on the commercial resale of an artwork; and
 (b) despite using its best endeavours, the collecting society is unable to locate a holder of the resale royalty right on the commercial resale or an interest in the right during a period of 6 years beginning at the time of the commercial resale;
the collecting society must deal with that holder's share of the resale royalty together with interest earned on that share less the collecting society's administration fee, in accordance with subsection (2).
 (2) The collecting society must:
 (a) distribute the amount in equal shares to those of the remaining holders of the resale royalty right who can be located; or
 (b) if no such person can be located—distribute the amount in equal shares to the persons who paid the resale royalty and who can be located; or
 (c) if no such person can be located—retain the amount for use in the collection and distribution of resale royalties and the enforcement of resale royalty rights.

Division 6—Other characteristics of resale royalty right