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Auction Notice

The notice that must be given before an auction is conducted, and the current notice to display.

What the law requires

Under Section 79 of the Property Agents and Land Transactions Act 2016, a general auctioneer or real estate agent must not conduct an auction until notice has been given of the relevant and material parts of the Act.

The sections that must be contained in the notice are:

Section 67 — Bids by owner at public auction
Section 69 — Dummy bids
Section 70 — Offence to falsely acknowledge bid
Section 76 — Certain bidding agreements unlawful
Section 77 — Collusive practices prohibited at auctions
Section 78 — Successful bidder to supply information to auctioneer

The notice

The Board publishes the auction notice for each financial year. It must be given before an auction is conducted.