New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 67

67 Bids may only be taken from registered bidders

(1) The auctioneer at a sale by auction of residential property or rural land must not take a bid from a person unless--

(a) the relevant details of the person have been entered before the bid is taken in a Bidders Record made in respect of the auction in accordance with section 68, and the auctioneer is in possession of that record when the bid is taken, and

(b) the person is identified at the auction by the person displaying an identifying number allocated to the person for the purposes of the auction and recorded in the Bidders Record as the identifying number allocated to the person.

: Maximum penalty--100 penalty units.

(2) An auctioneer who refuses to take a bid from a person because of this section does not incur a liability to any person as a result of that refusal.

(3) The taking of a bid in contravention of this section does not affect the validity of the bid (or its taking or acceptance) and the bid (and its taking or acceptance) are as valid for all purposes as if this section had not been enacted.