sec.92Beneficial interest—other than options

### sec.92 Beneficial interest—other than options This section applies to a motor vehicle placed by a person ( client ) with a motor dealer for sale on consignment, but does not apply if section 91 applies. The motor dealer commits an offence if the motor dealer obtains a beneficial interest in the vehicle. Maximum penalty—200 penalty units or 3 years imprisonment. A motor salesperson employed by the motor dealer commits an offence if the salesperson obtains a beneficial interest in the vehicle. Maximum penalty—200 penalty units or 3 years imprisonment. A person does not contravene subsection (2) or (3) if— the person— before a contract for the sale of the motor vehicle is entered into, obtains the client’s written acknowledgement in the approved form that the client— is aware that the person is interested in obtaining a beneficial interest in the motor vehicle; and consents to the person obtaining the interest; and acts fairly and honestly in relation to the sale; and no commission or other reward is payable for the sale; and the client is in substantially as good a position as the client would be if the motor vehicle were sold at fair market value. A person may make a claim, under the Administration Act , against the fund if the person suffers financial loss because of a contravention of this section. (sec.92-ssec.1) This section applies to a motor vehicle placed by a person ( client ) with a motor dealer for sale on consignment, but does not apply if section 91 applies. (sec.92-ssec.2) The motor dealer commits an offence if the motor dealer obtains a beneficial interest in the vehicle. Maximum penalty—200 penalty units or 3 years imprisonment. (sec.92-ssec.3) A motor salesperson employed by the motor dealer commits an offence if the salesperson obtains a beneficial interest in the vehicle. Maximum penalty—200 penalty units or 3 years imprisonment. (sec.92-ssec.4) A person does not contravene subsection (2) or (3) if— the person— before a contract for the sale of the motor vehicle is entered into, obtains the client’s written acknowledgement in the approved form that the client— is aware that the person is interested in obtaining a beneficial interest in the motor vehicle; and consents to the person obtaining the interest; and acts fairly and honestly in relation to the sale; and no commission or other reward is payable for the sale; and the client is in substantially as good a position as the client would be if the motor vehicle were sold at fair market value. A person may make a claim, under the Administration Act , against the fund if the person suffers financial loss because of a contravention of this section. - (a) the person— (i) before a contract for the sale of the motor vehicle is entered into, obtains the client’s written acknowledgement in the approved form that the client— (A) is aware that the person is interested in obtaining a beneficial interest in the motor vehicle; and (B) consents to the person obtaining the interest; and (ii) acts fairly and honestly in relation to the sale; and - (i) before a contract for the sale of the motor vehicle is entered into, obtains the client’s written acknowledgement in the approved form that the client— (A) is aware that the person is interested in obtaining a beneficial interest in the motor vehicle; and (B) consents to the person obtaining the interest; and - (A) is aware that the person is interested in obtaining a beneficial interest in the motor vehicle; and - (B) consents to the person obtaining the interest; and - (ii) acts fairly and honestly in relation to the sale; and - (b) no commission or other reward is payable for the sale; and - (c) the client is in substantially as good a position as the client would be if the motor vehicle were sold at fair market value. - (i) before a contract for the sale of the motor vehicle is entered into, obtains the client’s written acknowledgement in the approved form that the client— (A) is aware that the person is interested in obtaining a beneficial interest in the motor vehicle; and (B) consents to the person obtaining the interest; and - (A) is aware that the person is interested in obtaining a beneficial interest in the motor vehicle; and - (B) consents to the person obtaining the interest; and - (ii) acts fairly and honestly in relation to the sale; and - (A) is aware that the person is interested in obtaining a beneficial interest in the motor vehicle; and - (B) consents to the person obtaining the interest; and