New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 15

15 Bidders Record exemptions--the Act, s 4

(1) If a person is registering to bid on behalf of a body corporate, the following exemptions apply--

(a) an exemption from the requirement under the Act, section 68(2)(b) that the relevant details of the person bidding include the number or other identifier of proof of identity of the body corporate,

(b) an exemption from the requirement under the Act, section 69(1)(b) that the letter of authority to bid on behalf of a body corporate specify the number or other identifier of proof of identity for the body corporate, if the letter of authority specifies the Australian Business Number of the body corporate.

(2) If a person who is registering to bid on behalf of another person will be bidding for the other person under a power of attorney, there is an exemption from the requirement under the Act, section 68(2)(b) that the relevant details of the person bidding include the specified details of the other person.

(3) If a person who is registering to bid on behalf of another person will be bidding in the capacity of a buyer's agent, there is an exemption from the Act, section 69(1)(b), if details of the person on behalf of whom the agent is to bid are established by the production of a copy of the agency agreement under which the agent will be bidding.