Clause 54

The proceeds of a sale under subsection (1) of section 52 shall be applied in the first place in satisfaction of the sum due together with interest thereon at the rate of six per cent per annum and costs.

In the event of there being a surplus remaining thereafter the Authority shall, if satisfied as to the right of any person claiming the surplus, pay the amount thereof to that person or, if not so satisfied, shall hold the amount in trust for the person who ultimately succeeds in due course of law in establishing his title thereto.

If no title is established to that surplus within the period of five years from the date of the sale, it shall be paid into the Authority’s fund.