sec.130Buyer’s premium

### sec.130 Buyer’s premium This section applies to an auction of goods. A chattel auctioneer must not charge the buyer of goods a buyer’s premium unless— the chattel auctioneer— before the auction, obtains the written consent of the owner of the goods; and discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and the premium is not more than the amount prescribed or worked out under a regulation. Maximum penalty—200 penalty units. The chattel auctioneer does not act for the buyer of the goods only because the chattel auctioneer accepts a buyer’s premium from the buyer. In this section— buyer’s premium means an amount payable to the chattel auctioneer by a buyer on the purchase of goods. owner , of goods, includes a person who is lawfully entitled to sell the goods. (sec.130-ssec.1) This section applies to an auction of goods. (sec.130-ssec.2) A chattel auctioneer must not charge the buyer of goods a buyer’s premium unless— the chattel auctioneer— before the auction, obtains the written consent of the owner of the goods; and discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and the premium is not more than the amount prescribed or worked out under a regulation. Maximum penalty—200 penalty units. (sec.130-ssec.3) The chattel auctioneer does not act for the buyer of the goods only because the chattel auctioneer accepts a buyer’s premium from the buyer. (sec.130-ssec.4) In this section— buyer’s premium means an amount payable to the chattel auctioneer by a buyer on the purchase of goods. owner , of goods, includes a person who is lawfully entitled to sell the goods. - (a) the chattel auctioneer— (i) before the auction, obtains the written consent of the owner of the goods; and (ii) discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and - (i) before the auction, obtains the written consent of the owner of the goods; and - (ii) discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and - (b) the premium is not more than the amount prescribed or worked out under a regulation. - (i) before the auction, obtains the written consent of the owner of the goods; and - (ii) discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and