Document ID: chunk:federal_register_of_legislation:C2025C00034:section:90
Version: federal_register_of_legislation:C2025C00034
Segment Type: section
Provision Reference: s 90
Character Range: 194983–196944

90  Buying out other interests in forfeited property
 (1) If:
 (a) property is forfeited to the Commonwealth under this Part; and
 (b) an interest in the property is required to be transferred to a person (the relevant person) under subsection 88(1) or 89(1), or under a direction under paragraph 73(2)(c); and
 (c) the relevant person's interest in the property, immediately before the forfeiture took place, was not the only interest in the property; and
 (d) the relevant person gives written notice to each other person who had an interest in the property immediately before the forfeiture took place that:
 (i) the relevant person intends to purchase that other interest from the Commonwealth; and
 (ii) the person served with the notice may, within 21 days after receiving the notice, lodge a written objection to the purchase of that other interest with the Minister and the *Official Trustee; and
 (e) no person served with notice under paragraph (d) in relation to that other interest lodges a written objection to the purchase of that other interest with the Minister and the Official Trustee within the period referred to in that paragraph; and
 (f) the relevant person pays to the Commonwealth, while that other interest is still vested in the Commonwealth, an amount equal to the value of that other interest;
the Official Trustee must arrange for that other interest to be transferred to the relevant person.
 (2) If a person served with notice under paragraph (1)(d) in relation to the other interest mentioned in that paragraph lodges a written objection to the purchase of that other interest with the Minister and the *Official Trustee within the period referred to in that paragraph:
 (a) the Minister; or
 (b) a *senior Departmental officer authorised by the Minister for the purposes of this subsection;
may direct the Official Trustee to transfer that other interest to the person.

Part 2‑3—Forfeiture on conviction of a serious offence