s. 40 (2) The auctioneer of land at a public auction must not acknowledge the making of a bid at the auction if no bid was made. 240 penalty units. (3) Subsection (1) does not apply to a bid made in S. 39(3) inserted by accordance with section 38(6). No. 103/2004 s. 70(2). 40 Offence to procure dummy bid S. 40 inserted by No. 41/2003 A person must not procure another person to make s. 3. a bid at a public auction of land that is contrary to section 38. In the case of a body corporate: 600 penalty units. In any other case: 240 penalty units. 41 Permissible vendor bids S. 41 inserted by No. 41/2003 (1) Despite section 38(2), the auctioneer of land at a s. 3. public auction may make a bid on behalf of a vendor of the land if— (a) the conditions under which the auction is conducted permit the making of the bid; and (b) before any bidding started, the auctioneer orally declared at the auction that the conditions permit the making of the bid; and (c) immediately before, or in the process of, S. 41(1)(c) amended by making the bid, the auctioneer audibly states No. 103/2004 that the bid is being made on behalf of the s. 70(3). vendor; and (d) the bid is not made on behalf of a vendor S. 41(1)(d) inserted by who is a co-owner to enable the vendor to No. 103/2004 purchase the interest of a co-owner in the s. 70(4). land.
(2) The auctioneer of land at a public auction must not acknowledge the making of a bid at the auction if no bid was made. 240 penalty units. S. 39(3) inserted by No. 103/2004 s. 70(2). (3) Subsection (1) does not apply to a bid made in accordance with section 38(6). S. 40 inserted by No. 41/2003 s. 3. 40 Offence to procure dummy bid s. 40 A person must not procure another person to make a bid at a public auction of land that is contrary to section 38. In the case of a body corporate: 600 penalty units. In any other case: 240 penalty units. S. 41 inserted by No. 41/2003 s. 3. 41 Permissible vendor bids (1) Despite section 38(2), the auctioneer of land at a public auction may make a bid on behalf of a vendor of the land if— (a) the conditions under which the auction is conducted permit the making of the bid; and (b) before any bidding started, the auctioneer orally declared at the auction that the conditions permit the making of the bid; and S. 41(1)(c) amended by No. 103/2004 s. 70(3). (c) immediately before, or in the process of, making the bid, the auctioneer audibly states that the bid is being made on behalf of the vendor; and S. 41(1)(d) inserted by No. 103/2004 s. 70(4). (d) the bid is not made on behalf of a vendor who is a co-owner to enable the vendor to purchase the interest of a co-owner in the land.