Value Added Tax Act (Cap. 406), article 65

65. (1) Where any assets belonging to an economic activity of a person are sold by judicial auction pursuant to any proceedin gs exercised by a creditor or by cr editors of that person, and whe re that sale is treated as a suppl y of goods in terms of the relev ant provisions of the Second Schedule and is subject to tax under t his Act, the registrar of the court under the authority of which th e sale is made shall, after notifying t he person or per sons appearing to be interested therein, remit to the Commissioner from the proceeds lodged in court, with preference over any other person not havi ng a prior claim to that of the Commi ssioner as provided for in arti cle 62, the tax chargeable on that supply. (2) Any interested person may o ppose the remittance referred to in sub-article (1) by means of a sworn application filed aga inst the Commissioner within six working days from the date of the notification referred to in the said sub-article. Cap. 12. (3) No bid animo compensandi shall be approved for the 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 wit h sub-article (1). Representatives. Amended by: X. 2003.34; IX.2025.71.