Fri, Oct

How does the Receiver of Wreck dispose of the goods?

MCA Oral Exam Questions

If the goods were found outside the UK (or its territorial waters), ownership may be transferred to the finder as salvor on payment of any expenses incurred by the Receiver in the 12-month period, and any Customs charges owing. If the goods were found in the UK or its waters, they may be put up for sale at auction, or the finder may be awarded the goods in lieu of a salvage payment. (The decision is at the discretion of the Receiver of Wreck. ) If the goods are sold, once all costs have been deducted from the money raised, the finder will be awarded a sum as a salvage reward. (This does not preclude the finder from making a bid for the goods. )