Document ID: chunk:federal_register_of_legislation:F2015L01818:front:0:p144
Version: federal_register_of_legislation:F2015L01818
Segment Type: other
Provision Reference: 
Character Range: 411107–413953

apply:

       (a)      the Director will give a written notice to the Council offering to sell the item to a Community purchaser for a fair market value specified in the notice;

       (b)      the offer may be accepted by a Community purchaser by giving written notice of acceptance within twenty eight (28) after the Director's notice is received by the Council;

       (c)       if the offer is not accepted within that period the Director may proceed to dispose of the item to any another person;

       (d)      if the offer is accepted within the twenty eight (28) day period a binding contract for sale of the item will exist between the Director and the Community purchaser for the price stated in the Director's notice of offer;

       (e)      the Community purchaser will complete the contract for sale within sixty (60) days of giving their notice of acceptance to the Director;

       (f)        if the Community purchaser fails to complete the contract for sale within sixty (60) days the Director may, without prejudice to any other legal rights or remedies that the Director may have against the purchaser, rescind the contract by giving twenty one (21) days written notice in writing to the purchaser, and a copy to the Council if it is not the purchaser;

       (g)      if the Director rescinds the contract for sale under paragraph (f) another Community purchaser ("the second Community purchaser") may accept the Director's offer to sell by giving the Director a written notice of acceptance within a further period of seven (7) days;

       (h)      if a notice of acceptance is given under paragraph (g) a binding contract for sale of the item will exist between the Director and the second Community purchaser for the price stated in the Director's notice of offer, and paragraphs (e) and (f) will apply;

       (i)         if a notice of acceptance is not given under paragraph (g), or if the Director rescinds the contract of sale with the second Community purchaser under paragraph (f), the Director may then dispose of the item to any other person.

    12.             FUNDING

    12.1         Subject to the EPBC Act the Director will from monies lawfully available to the Director provide such moneys as are reasonably required for the administration of the Board of Management and, for the payment of any reasonable expenses incurred by members of the Board of Management in the performance of their duties ("the administrative costs of the Board of Management").

    12.2         This clause does not have operation to the extent that the administrative costs of the Board of Management are met from another source or sources, including an appropriation by the Parliament.

    13.             STAFFING

    13.1         The Director will use the Director's best endeavours to maintain staff and engage