14Making Bidders Records—the Act, s 68

#### 14 Making Bidders Records—the Act, s 68 14 Making Bidders Records—the Act, s 68 > > (1) The Bidders Record for an auction of property must record the following— > > > > > (a) the date and place of the auction, > > > > > (b) the address of the property, > > > > > (c) the name and licence number of the auctioneer conducting the auction, > > > > > (d) the name of the owner of the property at the time of the auction, > > > > > (e) the name and licence number of the selling agent for the auction, > > > > > (f) if the property is sold at the auction—which of the persons named in the Bidders Record is the successful bidder and the sale price, > > > > > (g) if the property is not sold at the auction—the highest bid accepted, and the vendor bid, if any, at the auction. > > > > Note— > > > > A Bidders Record made by a licensee is one of the licensee’s records for the Act, Part 8. > > > (2) If a person who is registering to bid on behalf of another person will be bidding for the other person as a buyer’s agent, the Bidders Record— > > > > > (a) must record the agent’s licence number, and > > > > > (b) may record the address of the agent’s registered office as the agent’s address. > > > (3) An agent who makes a Bidders Record must ensure only the following persons make entries in the Bidder’s Record— > > > > > (a) the agent who makes the Bidders Record, > > > > > (b) an employee of the agent acting on behalf of the agent. > > > > Maximum penalty— > > > > > (a) for a corporation—40 penalty units, or > > > > > (b) otherwise—20 penalty units. > > > (4) If more than 1 property is to be offered for sale at an auction sale, a single Bidders Record may be made to apply to 2 or more of the properties to be offered for sale. > > > (5) If a single Bidders Record is made to apply to 2 or more properties— > > > > > (a) the details of a person who will be entitled to bid at the auction of any of the properties are only required to be entered in the Bidders Record once, and > > > > > (b) the details required by subsections (1) and (2) must be recorded separately in relation to each of the properties in the Bidders Record.