sec.92Buyer’s premium

### sec.92 Buyer’s premium This section applies to an auction of goods by an auctioneer. An auctioneer must not charge the buyer of the goods a buyer’s premium unless— the auctioneer— before the auction, obtains the written consent of the owner of the goods; and discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and the premium is not more than the amount prescribed or worked out under a regulation. Maximum penalty—200 penalty units. The auctioneer does not act for the buyer of the goods only because the agent accepts a buyer’s premium from the buyer. In this section— buyer’s premium means an amount payable to an auctioneer by a buyer on the purchase of goods. owner , of goods, includes a person who is lawfully entitled to sell the goods. (sec.92-ssec.1) This section applies to an auction of goods by an auctioneer. (sec.92-ssec.2) An auctioneer must not charge the buyer of the goods a buyer’s premium unless— the auctioneer— before the auction, obtains the written consent of the owner of the goods; and discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and the premium is not more than the amount prescribed or worked out under a regulation. Maximum penalty—200 penalty units. (sec.92-ssec.3) The auctioneer does not act for the buyer of the goods only because the agent accepts a buyer’s premium from the buyer. (sec.92-ssec.4) In this section— buyer’s premium means an amount payable to an auctioneer by a buyer on the purchase of goods. owner , of goods, includes a person who is lawfully entitled to sell the goods. - (a) the auctioneer— (i) before the auction, obtains the written consent of the owner of the goods; and (ii) discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and - (i) before the auction, obtains the written consent of the owner of the goods; and - (ii) discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and - (b) the premium is not more than the amount prescribed or worked out under a regulation. - (i) before the auction, obtains the written consent of the owner of the goods; and - (ii) discloses, in the way prescribed under a regulation, that a buyer’s premium is payable on the purchase of the goods; and