48Consignment agreements—the Act, s 186(2)(i)

48 Consignment agreements—the Act, s 186(2)(i)

48 Consignment agreements—the Act, s 186(2)(i)

(1) A motor dealer who agrees to sell a motor vehicle on consignment must—

(a) enter into a written agreement with the consignor for the consignment, and

(b) include the information required by subsection (2) in the agreement, and

(c) keep a copy of the agreement and give another copy of the agreement to the consignor.

Maximum penalty—20 penalty units.

(2) The following information must be included in the agreement—

(a) the consignor’s name, address and licence number,

(b) the consignee’s name, address and licence number,

(c) a description of the motor vehicle to which the agreement relates, including—

(i) the registration number of the vehicle, or

(ii) if the vehicle is not registered—the vehicle identification number of the vehicle,

(d) details of any encumbrance to which the vehicle is subject or, if there is no encumbrance, a statement that there is no encumbrance,

(e) the price agreed to be paid to the consignor or the method of calculating the price to be paid to the consignor,

(f) directions for disbursement of the price agreed to be paid to the consignor, including any amount required to be paid to discharge an encumbrance to which the vehicle is subject,

(g) the date of commencement of the consignment,

(h) the date of termination, or the period, of the consignment.

(3) This section does not apply if the consignor of the motor vehicle is also a motor dealer.