Payment of proceeds of sale to owner of vehicle
8.—(1) Where the authority dispose of a vehicle in pursuance of these Regulations by means of sale, they shall pay the net proceeds of sale to any person who, before the end of the period of one year beginning with the date on which the vehicle is sold, satisfies the authority that at the time of the sale he was the owner of the vehicle.
(2) If it appears to the authority that more than one person is the owner of a particular vehicle, such one of them as the authority think fit shall be treated as its owner for the purposes of paragraph (1).
(3) In this regulation, “the net proceeds of sale” means any sum by which the proceeds of sale exceed the aggregate of such sums as may be payable under these Regulations in respect of the removal and retention of the vehicle.