Seized Property Disposition Regulations
Regulations Respecting the Disposition of Seized Property
P.C. 1994-561 1994-04-14
His Excellency the Governor General in Council, on the recommendation of the Minister of Supply and Services and the Minister of Justice, pursuant to subsection 5(2), paragraph 13(2)(a) and section 19 of the Seized Property Management ActFootnote *, is pleased hereby to make the annexed Regulations respecting the disposition of seized property.
Return to footnote *S.C. 1993, c. 37
2. In these Regulations,
“Act” means the Seized Property Management Act; (Loi)
- “contract for services”
“contract for services” means a contract for services in respect of any property that is in the possession or under the control of the Minister, whether the property has been forfeited to Her Majesty or not; (marché de services)
“contractor” means any person who enters into a contract for services with the Minister, referred to in section 18 of the Act; (entrepreneur)
“property” means property referred to in any of subsections 4(1) to (3) of the Act that is forfeited to Her Majesty. (bien)
DISPOSITION OF PROPERTY
3. (1) Property may be disposed of in any manner including public tender or public auction.
(2) All property disposed of under these Regulations shall be disposed of on an “as-is/where-is” basis.
- SOR/98-190, s. 1.
4. (1) Where property is being disposed of by means of public tender, all tenders shall be in writing and shall be submitted in sealed envelopes marked “tender”.
(2) The envelopes referred to in subsection (1) shall remain sealed until the designated closing date, after which time the envelopes shall be opened in the presence of at least two persons.
5. The Minister may cancel the sale of any property offered for sale by public auction or public tender where no bid or tender is received, no bid or tender meets the minimum bid or tender set before the sale, or the Minister does not consider any of the bids or tenders acceptable.
6. Where two or more tenders in respect of property are in the same amount, the first tender received shall be given precedence.
7. The Minister shall give notice, in writing, to the person whose bid or tender in respect of property has been verbally or otherwise accepted, setting out the period within which the sale must be completed.
8. Where a person whose bid or tender in respect of property has been accepted does not complete the sale within the period set out in the notice referred to in section 7, the Minister may cancel that sale and accept the next-best acceptable bid or tender.
9. (1) The Minister may require a deposit from a person who submits a bid or tender in respect of property to guarantee completion of a sale.
(2) Where a person whose bid or tender in respect of property has been accepted does not complete the sale within the period set out in the notice referred to in section 7, the person’s deposit in respect of that property shall be forfeited to Her Majesty, deposited in the Consolidated Revenue Fund and credited to the Proceeds Account.
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