South Australian Numbered Acts

STATUTES AMENDMENT (REAL ESTATE REFORM REVIEW AND OTHER MATTERS) ACT 2013 (NO 17 OF 2013) - SECT 16

16—Substitution of section 24I

Section 24I—delete the section and substitute:

24I—Standard conditions of auction for residential land

        (1)         The regulations may prescribe conditions ("standard conditions of auction ) that will apply as contractual conditions to any auction conducted by an agent for the sale of residential land.

        (2)         The standard conditions of auction will be binding as between—

            (a)         the vendor and the purchaser; and

            (b)         the vendor and the auctioneer; and

            (c)         the bidders and the auctioneer.