68Permissible owner bids

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 –

(a) the conditions under which the auction is conducted permit the making of the bid; and

(b) before the bidding starts, the auctioneer orally declares at the auction that the conditions permit the making of the bid; and

(c) 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.