Second-hand dealer must keep a transactions register
37 Second-hand dealer must keep a transactions register
A second-hand dealer must keep a printed or an electronic register of transactions (transactions register), in a way prescribed under a regulation, for each authorised place for the second-hand dealer’s licence.Maximum penalty—200 penalty units.
The second-hand dealer must, before or immediately after each second-hand property transaction at an authorised place, enter in the transactions register for the place the particulars prescribed under a regulation for the transaction.Maximum penalty—200 penalty units.
A second-hand dealer must not separate second-hand property into parts to avoid entering the particulars for a second-hand property transaction.Maximum penalty—200 penalty units.
If the second-hand property transaction happens at a place other than an authorised place, the second-hand dealer must, as soon as practicable after the transaction, enter in the transactions register for the second-hand dealer’s principal place of business the particulars prescribed under a regulation for the transaction.Maximum penalty—200 penalty units.
In this section—second-hand property transaction means a transaction for the acquisition, sale or disposal of—
second-hand property with a resale value of at least $55; or
second-hand property that is jewellery, contains precious metals or is property that may be identified by—
a make, model or serial number on the property; or
an inscription.
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