Speculating in goods
42 Speculating in goods
A person, not being a bona fide wholesale or retail trader or a bona fide consumer or user, shall not purchase or agree to purchase or otherwise acquire (except by way of bona fide security only) any goods or any right or interest therein.
Maximum penalty: If the offender is a natural person –
100 penalty units.
If the offender is a body corporate – 500 penalty units.
In any prosecution for an offence against subsection (1) it shall be a sufficient defence to show that the purchase or agreement had not the object or the effect of increasing, directly or indirectly, the price of the goods to the consumer or user.
This section shall not apply in relation to the purchase or acquisition of goods at a sale of those goods by auction upon the winding up of a business.
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