If you have a wreck, it can be sold right away in some situations. You should know that this rule is part of the Maritime Transport Act 1994, which is a law about ships and boats in New Zealand. This particular rule is called 'Wreck may be sold immediately in certain cases' and it is section 108 of the Act.

However, you need to be aware that this rule is no longer in effect, it was repealed on 9 June 1999 by the Maritime Transport Amendment Act 1999, which is another law that changed some of the rules in the Maritime Transport Act 1994, you can find more information about this change in section 20(1)(g) of the Maritime Transport Amendment Act 1999. This means that the rule about selling a wreck right away is not a rule anymore. The Maritime Transport Amendment Act 1999 made this change to the law.