South Australian Numbered Acts South Australian Numbered Acts17—Amendment of section 24J—Preliminary actions and records required for auctions of residential land
Section 24J(1)(b)—delete paragraph (b) and substitute:
(b) the auctioneer must, immediately before the auction commences, audibly announce to members of the public attending the auction that the standard conditions of auction (as required to be made available for perusal before the auction) apply to the auction as binding contractual conditions;
(ba) the reserve price for the land must not, at any time before or during the auction, be set at an amount exceeding 110% of the amount specified in the sales agency agreement as the selling price sought by, or acceptable to, the vendor;