Registered bidders only at auctions of residential land
24K Registered bidders only at auctions of residential land
An auctioneer at a sale by auction of residential land—
must not take a bid from a person unless—
the person has been registered in the bidders register for the auction and the auctioneer is in possession of that register when the bid is taken; and
the person is identified at the auction by the person displaying a unique identifier (comprising a number, letter, colour or some other identifying feature) allocated to the person for the purposes of the auction and recorded in the bidders register as the unique identifier allocated to the person; and
must, when taking the bid, audibly announce the bid as having been taken from a bidder with that person's unique identifier. Maximum penalty: Maximum penalty: $10 000.
An auctioneer who refuses to take a bid from a person because of subsection (1) does not incur a liability to any person as a result of that refusal.
The taking of a bid in contravention of this section does not affect the validity of the bid or a contract for the sale of the land.
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