Property Services (Regulation) Act 2011

58.

Sale by auction.

58.— (1) Subject to subsection (2), where land is offered for sale by auction, the vendor shall not—

( a) bid at the auction, or

( b) procure, authorise or permit any person to bid on the vendor’s behalf.

(2) Subsection (1) shall not apply where land is offered for sale by auction in compliance with—

( a) a court order under the Family Law Act 1995, or

( b) a court order under the Family Law (Divorce) Act 1996.

(3) A licensee shall not knowingly accept a bid made in contravention of subsection (1).

(4) Where there is a contravention of subsection (1) in respect of any land offered for sale by auction, the purchaser of the land may, notwithstanding any statutory provision or rule of law to the contrary, refuse to complete a contract of sale in respect of the land without thereby incurring any civil liability which may otherwise have been incurred in consequence of such a refusal.

(5) Subsection (4) shall not operate to deprive the purchaser referred to in that subsection of any legal remedy which, if that subsection had not been enacted, the purchaser would have had in relation to the contravention of subsection (1) concerned or, if applicable, any contravention of subsection (3) which relates to that first-mentioned contravention.

(6) A person who contravenes subsection (1) is guilty of an offence and liable on summary conviction to a class A fine or imprisonment for a term not exceeding 12 months or both.