(1) Subject to paragraph (2) the Director may, as soon as practicable after the seizure, removal and detention of a dwelling vessel under regulation 17, sell it by public auction or tender or in such other manner as he sees fit.
(2) The Director shall give not less than 5 days notice of the proposed sale, under paragraph (1), of any dwelling vessel by publishing notice thereof in one newspaper printed in the English language and one newspaper published in the Chinese language and circulating in the area in which such dwelling vessel was seized.
(3) The proceeds of sale, if any, of a dwelling vessel sold under paragraph (1) shall be paid to the owner thereof, if known, and, if the owner thereof is not known or does not claim such proceeds within 6 months of the sale, shall be paid into the general revenue of Hong Kong.
(4) Any dwelling vessel which the Director is unable to sell may be destroyed or otherwise disposed of in such manner as the Director sees fit.