Auction Rules, Terms & Conditions - Tasmania

Tasmania: Auction Conditions and Rules

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PROPERTY AGENTS AND LAND TRANSACTIONS ACT 2016 - SECT 71

Conditions of public auctions to be made available before auction starts

1. A real estate agent must not conduct a public auction of land unless, a reasonable time before the start of the auction, the agent has made available for public inspection a copy of the conditions under which the auction is to be conducted.

Penalty:  Fine not exceeding 50 penalty units.

2. Subsection (1) is to be taken not to have been complied with unless –
1. the conditions were made available for public inspection at least 7 days before the start of the auction; and
2. their availability was published in such a manner as to bring their availability to the attention of persons likely to attend the auction; and
3. the conditions were also on display for public inspection immediately before the auction at the place where it was to be conducted.

Vendor Bids:

PROPERTY AGENTS AND LAND TRANSACTIONS ACT 2016 - SECT 67

Bids by owner at public auction

1. At a public auction of land –
1. the owner of the land must not bid or cause a person to bid on the owner's behalf; and
2. a person must not bid on behalf of the owner of the land; and
3. the auctioneer conducting the auction must not accept a bid from a person who the auctioneer knows is bidding in contravention of paragraph (a) or (b) .

Penalty:  Fine not exceeding 500 penalty units.

2. A person must not procure another person to make a bid that is contrary to subsection (1) (b).

Penalty:  Fine not exceeding 500 penalty units.

3. It is not a defence to a charge for an offence under subsection (1) to prove that the person making the bid was not in Tasmania at the time the bid was made.
4. For the purposes of subsection (1) (b), a bid may be found to have been made on behalf of an owner even though it was not made at the request of, or with the knowledge of, the owner.
5. Evidence that a person who made a bid at a public auction had the intention of benefiting the owner in making the bid is evidence that the person made the bid on behalf of the owner.
6. It is a defence to a charge for an offence under subsection (1) to prove –
1. that the land that was auctioned was owned by more than one person; and
2. that one or more of those persons was attempting, in good faith, to acquire a greater interest in the land; and
3. that the auctioneer had been advised of the situation by or on behalf of that person before the start of the auction.

PROPERTY AGENTS AND LAND TRANSACTIONS ACT 2016 - SECT 68

Permissible owner bids

1. Despite section 67 , an auctioneer conducting a public auction of land may make a bid on behalf of an owner of the land if –
1. the conditions under which the auction is conducted permit the making of the bid; and
2. before the bidding starts, the auctioneer orally declares at the auction that the conditions permit the making of the bid; and
3. immediately before or in the process of making the bid, the auctioneer audibly states that the bid is being made on behalf of the owner.
2. A bid mentioned in subsection (1) must be made by the auctioneer personally and not by a person acting on behalf of the auctioneer.
3. It is sufficient compliance with the requirement of subsection (1) (c) to identify a bid as a bid by an owner if the auctioneer states "vendor bid" in making the bid.
4. It is not sufficient compliance with the requirement of subsection (1) (c) to identify a bid as a bid by an owner if the auctioneer merely identifies the owner by name without stating that the bidder is an owner.