Property Tax Act 1960 · 2020 Revised Edition · Part 5 · Collection and Recovery of Tax
41. Application of proceeds
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The proceeds of a sale under section 39(1) must be applied in the first place in satisfaction of the arrears together with interest thereon at such rate as may be prescribed and costs.
Where there is any surplus remaining thereafter, the Comptroller must, if satisfied as to the right of any person claiming the surplus, pay the amount thereof to the person or, if not so satisfied, must hold the amount in trust for the person who may ultimately succeed in due course of law in establishing the person’s title thereto.
Comptroller
“Comptroller” means the Comptroller of Property Tax appointed under section 3 and includes, for the purposes of this Act except the exercise of the powers conferred upon the Comptroller by sections 6 and 39, a Deputy Comptroller or an Assistant Comptroller so appointed;
If no title is established to such surplus within a period of 5 years from the date of the sale, it must be paid into the Consolidated Fund.