s. 41 41 Permissible vendor bids S. 41 inserted by (1) Despite section 38(2), the auctioneer of land at a No. 41/2003 public auction may make a bid on behalf of a s. 3. 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) It is sufficient compliance with the requirement under subsection (1)(c) to identify a bid as a vendor bid if the auctioneer states "vendor bid" in making the bid. (3) It is not sufficient compliance with the requirement under subsection (1)(c) to identify a bid as a vendor bid if the auctioneer merely identifies the vendor by name without stating that the vendor is a vendor. 42 Offence to falsely acknowledge bid S. 42 inserted by No. 41/2003 A person at a public auction of land must not s. 3. falsely claim to have made a bid, or falsely acknowledge that he or she made a bid. 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. (2) It is sufficient compliance with the requirement under subsection (1)(c) to identify a bid as a vendor bid if the auctioneer states "vendor bid" in making the bid. (3) It is not sufficient compliance with the requirement under subsection (1)(c) to identify a bid as a vendor bid if the auctioneer merely identifies the vendor by name without stating that the vendor is a vendor. S. 42 inserted by No. 41/2003 s. 3. 42 Offence to falsely acknowledge bid s. 41 A person at a public auction of land must not falsely claim to have made a bid, or falsely acknowledge that he or she made a bid. 240 penalty units.
62-6975a145.docx