12.—(1) Where the Department or identified person disposes of a relevant motor vehicle, equipment or items in pursuance of these Regulations by means of sale, the net proceeds of sale shall be paid to any person who, before the end of the period of one year beginning with the date on which they were sold, satisfies the Department or identified person that at the time of the sale that person was the owner of the vehicle, equipment or items.
(2) If it appears to the Department or identified person that more than one person is the owner of a particular vehicle, equipment or items such one of them as the Department or identified person thinks 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, equipment or items.