Victorian Current Acts

SALE OF LAND ACT 1962 - SECT 41

    (1)     Despite section 38(2), the auctioneer of land at a public auction may make a bid on behalf of a vendor of the land if—

        (a)     the conditions under which the auction is conducted permit the making of the bid; and

        (b)     before any bidding started, the auctioneer orally declared at the auction that the conditions permit the making of the bid; and

S. 41(1)(c) amended by No. 103/2004 s. 70(3).

        (c)     immediately before, or in the process of, making the bid, the auctioneer audibly states that the bid is being made on behalf of the vendor; and

S. 41(1)(d) inserted by No. 103/2004 s. 70(4).

        (d)     the bid is not made on behalf of a vendor who is a co-owner to enable the vendor to purchase the interest of a co-owner in the land.

    (2)     It is sufficient compliance with the requirement under subsection (1)(c) to identify a bid as a vendor bid if the auctioneer states "vendor bid" in making the bid.

    (3)     It is not sufficient compliance with the requirement under subsection (1)(c) to identify a bid as a vendor bid if the auctioneer merely identifies the vendor by name without stating that the vendor is a vendor.

S. 42 inserted by No. 41/2003 s. 3.