Cap. 406 Art. 65Judicial auction.

(1) Where any assets belonging to an economic activity of a person are sold by judicial auction pursuant to any proceedings exercised by a creditor or by creditors of that person, and where that sale is treated as a supply of goods in terms of the relevant provisions of the Second Schedule and is subject to tax under this Act, the registrar of the court under the authority of which the sale is made shall, after notifying the person or persons appearing to be interested therein, remit to the Commissioner from the proceeds lodged in court, with preference over any other person not having a prior claim to that of the Commissioner as provided for in article 62, the tax chargeable on that supply.

(2) Any interested person may oppose the remittance referred to in sub-article (1) by means of a sworn application filed against the Commissioner within six working days from the date of the notification referred to in the said sub-article.

(3) No bid shall be approved for the animo compensandi purposes of article 331 of the Code of Organization and Civil Procedure unless the tax chargeable, if any, on that supply has been lodged in court and remitted by the Registrar in accordance with sub-article (1).