South Australian Consolidated Acts South Australian Consolidated Acts24N—Dummy bidding prohibited at auctions of land or businesses
(1) This section
applies subject to section 24O.
(2) A vendor of land
or a business must not make a bid at an auction of the land or business.
(3) A person must not
make a bid at an auction of land or a business knowing that the bid is being
made on behalf of a vendor of the land or business.
(4) For the purposes
of subsection (3), a bid may be found to have been made on behalf of a
vendor even though it is not made at the request of, or with the knowledge of,
the vendor.
(5) A person must not
procure another person to make a bid at an auction of land or a business that
is contrary to this section.
(6) An auctioneer must
not take a bid at an auction of land or a business if he or she knows that the
bid was made by, or on behalf of, a vendor of the land or business.
(7) An auctioneer must
not purport to take a bid at an auction of land or a business when in fact no
bid is being made.
(8) A person who
contravenes this section is guilty of an offence.
Maximum penalty: $20 000.
(9) In this
section—
"vendor" of land or a business has the meaning assigned by section 3 and
includes—
(a) a
mortgagee or other holder of a security interest in respect of the land or
business; and
(b) a
person of a class prescribed by regulation.