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Property Occupations Act 2014
sec.92Buyer’s premium
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### 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