(1) The Minister shall not less than 7 days before selling the contents of a safe deposit box by public auction pursuant to section 171 of the Act, give written notice to the Central Bank of the public auction.
(2) A notice under subregulation (1) must include —
(a) the date, time and place of the public auction; and
(b) an inventory of the safe deposit box to be offered for sale.
(3) The Minister shall publish the date, time and place of the public auction in —
(a) a newspaper for 2 consecutive weeks; and
(b) one issue of the Gazette.
(4) On the right to sell contents of a safe deposit box arising under section 171(1) of the Act, the Minister shall hold a public auction within 60 days.
(5) The Minister shall execute all documents necessary to transfer ownership of sold abandoned property to the purchaser.