Victorian Numbered Acts Victorian Numbered Acts(1) After section 38(5) of the Sale of Land Act 1962 insert —
'(6) Sub-sections (1) and (2) do not apply to a bid made by a vendor who is a co-owner of the land or by a person (other than the auctioneer of the land) on behalf of a vendor who is a co-owner of the land if—
(a) the bid was made to enable the vendor to purchase the interest of another co-owner in the land; and
(b) the conditions under which the auction is conducted permit the making of bids by a vendor to purchase the interest of another co-owner in the land; and
(c) before any bidding started, the auctioneer orally declared at the auction that a vendor may make bids to purchase the interest of a co-owner in the land.
(7) In sub-section (6), "co-owner" means a joint tenant, whether at law or in equity or a tenant in common, whether at law or in equity, of the land.'.
(2) After section 39(2) of the Sale of Land Act 1962 insert —
"(3) Sub-section (1) does not apply to a bid made in accordance with section 38(6).".
(3) In section 41(1)(c) of the Sale of Land Act 1962 for "vendor." substitute "vendor; and".
(4) After section 41(1)(c) of the Sale of Land Act 1962 insert —
"(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.".