720   What if the purchase money is more than the amounts owing?

(1)  Any balance of the purchase money must be paid into the council’s trust fund and held by the council in trust for the persons having estates or interests in the land immediately before the sale according to their respective estates and interests.

(2)  The council may pay the balance of the purchase money or any part of the balance to or among the persons who are, in its opinion, clearly entitled to it, and the receipt of the person to whom any payment is so made is an effectual discharge to the council for it.

(3)  (Repealed)