20Warnings about bidders’ obligations—the Act, ss 66, 78 and 83

#### 20 Warnings about bidders’ obligations—the Act, ss 66, 78 and 83 20 Warnings about bidders’ obligations—the Act, ss 66, 78 and 83 > > (1) The notice required to be given by the Act, section 66(4) must be in the following form— > > > > Penalty for dummy bidding > > > > It is an offence against the [Property and Stock Agents Act 2002](/view/html/inforce/current/act-2002-066) for a person to do one or more of the following— > > > > > (a) make a bid as the seller, > > > > > (b) make a bid on behalf of the seller unless the person is the auctioneer, > > > > > (c) procure another person to make a bid on behalf of the seller. > > > > A bid made with the dominant purpose of benefiting the seller constitutes a bid made on behalf of the seller. > > > > A bid may be found to be a bid made on behalf of the seller even though the seller did not— > > > > > (a) request the bid, or > > > > > (b) know about the bid. > > > > Severe penalties may be imposed on persons convicted of dummy bidding. > > > (2) The notice required to be given by the Act, section 78(3) must be in the following form— > > > > Penalty for collusive practices > > > > It is an offence against the [Property and Stock Agents Act 2002](/view/html/inforce/current/act-2002-066) for a person to do one or more of the following as a result of a collusive practice, or to induce or attempt to induce another person by a collusive practice to do one or more of the following— > > > > > (a) to abstain from bidding, > > > > > (b) to bid to a limited extent only, > > > > > (c) to do another act or thing that might prevent free and open competition. > > > > Severe penalties may be imposed on persons convicted of collusive practices. > > > (3) The notice required to be given by the Act, section 83(2) must be in the following form— > > > > Successful bidders > > > > The actual successful bidder at an auction sale must give to the auctioneer or an employee of the auctioneer— > > > > > (a) the bidder’s name, or > > > > > (b) the name of the person on behalf of whom the successful bid was made. > > > (4) Each notice— > > > > > (a) must have its contents clearly and legibly written or printed in English, and > > > > > (b) must be exhibited in a conspicuous position before and during the auction so as to be clearly visible to, and available for inspection by, a person attending the auction. > > > (5) A notice may be combined with the notice of auction conditions referred to in section 19.