Victorian Consolidated Regulations

SALE OF LAND (PUBLIC AUCTIONS) REGULATIONS 2014 - REG 7

r. 7

    (1)     Before accepting any bid at a public auction for the sale of land, the auctioneer of the land must audibly state—

        (a)     that the auction will be conducted in accordance with the rules and any additional conditions that were made available for inspection before the start of the auction; and

        (b)     that the auction rules prohibit an auctioneer from accepting bids or offers for a property after the property has been knocked down to the successful bidder; and

        (c)     that the auctioneer must indicate bidders on request; and

        (d)     that the law—

              (i)     prohibits false bids; and

              (ii)     prohibits major disruptions by bidders; and

              (iii)     prohibits bidders attempting to prevent others from bidding; and

              (iv)     provides for fines for this conduct.

Penalty:     10 penalty units.

    (2)     If the rules set out in Schedule 1 apply to a public auction of land and those rules permit the auctioneer to bid on behalf of the vendor, the auctioneer must, in addition to the requirements in subregulation (1), before accepting any bid audibly state—

        (a)     the words the auctioneer will use to indicate during the auction that the auctioneer is making a bid on behalf of the vendor; and

        (b)     that by law only the auctioneer can make a vendor bid.

Penalty:     10 penalty units.

    (3)     If the rules set out in Schedule 1 apply to a public auction of land and those rules do not permit the auctioneer to bid on behalf of the vendor, the auctioneer of the land must, in addition to the requirements in subregulation (1), before accepting any bid at the auction audibly state that the rules for the conduct of the auction do not permit the making of a bid on behalf of the vendor.

Penalty:     10 penalty units.

    (4)     If the rules set out in Schedule 2 apply to a public auction of land, the auctioneer must, in addition to the requirements set out in subregulation (1), before accepting any bid audibly state—

        (a)     that one of the vendors (or their representative) intends to make a bid to purchase the land; and

        (b)     that only the auctioneer can make a vendor bid on behalf of the vendor who is not bidding to purchase the land; and

        (c)     the words the auctioneer will use to indicate during the auction that the auctioneer is making a bid on behalf of the vendor who is not bidding to purchase the land.

Penalty:     10 penalty units.

    (5)     If the rules set out in Schedule 3 apply to a public auction of land, the auctioneer must, in addition to the requirements set out in subregulation (1), before accepting any bid audibly state—

        (a)     that one or more but not all of the vendors (or their representatives) intends to make a bid to purchase the land; and

        (b)     that only the auctioneer can make a vendor bid on behalf of a vendor who is not bidding to purchase the land; and

        (c)     the words the auctioneer will use to indicate during the auction that the auctioneer is making a bid on behalf of the vendor who is not bidding to purchase the land.

Penalty:     10 penalty units.

    (6)     If the rules set out in Schedule 4 apply to a public auction of land, the auctioneer must, in addition to the requirements set out in subregulation (1), before accepting any bid audibly state—

        (a)     that each of the vendors (or their representatives) intend to bid to purchase the land; and

        (b)     that no vendor bids will be made by the auctioneer.

Penalty:     10 penalty units.