LAND AND BUSINESS (SALE AND CONVEYANCING) ACT 1994 - SECT 11
LAND AND BUSINESS (SALE AND CONVEYANCING) ACT 1994 - SECT 11
11—Agent or auctioneer to make statements available before auction
(1) If land or a small
business is to be offered for sale by auction, the following provisions apply:
(a) if
an agent is acting on behalf of the vendor in the sale, the agent must ensure
that—
(i)
the vendor's statement is available for perusal by
members of the public—
(A) at the office of the agent or
auctioneer for at least 3 consecutive business days immediately preceding
the auction; and
(B) at the place at which the auction is to
be conducted for at least 30 minutes immediately before the auction
commences; and
(ii)
all reasonable steps are taken to give prospective
purchasers notice of the times and places at which the vendor's statement may
be inspected before the auction;
(b) if
no agent is acting on behalf of the vendor in the sale, the auctioneer must
ensure that the vendor's statement is available for perusal by members of the
public—
(i)
at the office of the auctioneer for at least
3 consecutive business days immediately preceding the auction; and
(ii)
at the place at which the auction is to be conducted for
at least 30 minutes immediately before the auction commences.
(2) An agent will be
taken to have complied with subsection (1)(a)(ii) in relation to a
prospective purchaser if the agent or a sales representative employed by the
agent—
(a)
incorporates the notice with promotional material for the sale that the agent
or sales representative delivers to the purchaser; or
(b)
offers to deliver the notice, or promotional material for the sale
incorporating the notice, to the purchaser but the purchaser refuses to take
it; or
(c)
publishes the notice in a prominent position—
(i)
in promotional material for the sale on the agent's
website or in a newspaper circulating generally throughout the State or the
area in which the land or business is situated; or
(ii)
on the signboard advertising the sale at the land or at
the premises of the small business.