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TERMS AND CONDITIONS OF SALE
AUCTION NOTICEIn accordance with Section 16 of the Auctioneers & Real Estate Agents 1991 notice is given of the following provisions of the Act. CERTAIN BIDDING AGREEMENTS ARE UNLAWFULSection 13 of the Act makes it an offence for a dealer (being a person who in the normal course of business attends auctions for the purpose of purchasing property for resale) to give, agree to give or offer a gift or consideration to a person as an inducement of reward for abstaining or having abstained from bidding at an auction. (Maximum penalty for this offence is $5000). Section 13 of the Act also makes it an offence for a person to accept, agree to accept or attempt to obtain from a dealer a gift or consideration for abstaining from bidding at an Auction. (The maximum penalty for this offence is $5000). If, however, before an Auction a dealer enters into an agreement with a person to purchase property at the Auction bona fide on a joint account and has deposited a copy of the agreement with the Auctioneer then that agreement is not unlawful. COLLUSIVE PRACTICES AT AUCTIONS ARE UNLAWFULSection 14 of the Act makes in an offence for a person, by means of an unlawful promise made to another person at an Auction, to induce or attempt to induce that person to abstain from bidding (either generally or for any particular lot) or not to bid (except to a limited extent) or to do any act or thing which may in any way prevent or tend to prevent free or open competition. (The maximum penalty for this offence is $5000). Section 14 of the Act also makes it an offence for a person, as a result of unlawful promise made to that person to abstain or agree to abstain from bidding (either generally or for any particular lot) or not to bid (except to a limited extent) or to do any other act of thing which may in any way prevent or tend to prevent free and open completion. (The maximum penalty for this offence is $5000). An unlawful promise is an express or implied promise made by a person that if that person is the successful bidder in respect of property sold at an Auction. a) The person to whom the promise was made will have the right to elect through the Auctioneer to take over as Purchaser of the property or any part of the property at the Auction price; or b) The ownership of the property or any part of the property will be decided by a specified method. SUCCESSFUL BIDDER MUST SUPPLY CERTAIN INFORMATION TO THE AUCTIONEERSection 15 of the Act requires a person who makes the successful bid at an Auction to give to the Auctioneer, as soon as practicable after the acceptance of that bid – a) If the person bid on his or her own behalf - his or her name and address or b) If the person bid on behalf or another person – the name and address of that person. (The maximum penalty for failing to comply with this requirement is $2000.) A person who makes the successful bid at an Auction does not have to comply with this Section of the Act if he or she has previously given the required information to the Auctioneer.
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| 33 Main Road, Moonah, Tasmania, Australia 7009 | Terms & Conditions | ||
| Phone: (+61) 03 6278 1600 | Fax: (+61) 03 6278 3106 | Email: info@gowansauctions.com.au | |