68Bidders
Record
(1)
Before residential property or rural land is
offered for sale by auction, a record (the Bidders Record) must be made of the
persons who will be entitled to bid at the auction and there must be entered
in the Bidders Record in respect of each of those persons:
(a)
the relevant details of the person,
and
(b)
the identifying number allocated to the person
for the purposes of identifying the person at the auction,
and
(c)
such other information as the regulations may
require.
(2)
The relevant details of a person are:
(a)
the person’s name and address and the
number or other identifier of proof of identity for that person,
and
(b)
in addition, in the case of a person bidding on
behalf of another person, the name and address of that other person and the
number or other identifier of proof of identity for that other
person.
(3)
A real estate agent or stock and station agent
engaged to act in respect of the sale of residential property or rural land by
auction must make the Bidders Record required by this section for the auction
unless some other agent engaged to act in respect of the sale or acting for or
on behalf of the auctioneer has made the Bidders Record for the
auction.
(4)
An agent is to keep a Bidders Record made by the
agent for at least 3 years and is to keep all the Bidders Records made by the
agent together, in the form of a Register of Bidders
Records.
(5)
The regulations may make provision for or with
respect to:
(a)
conferring an entitlement on a seller of
residential property to inspect the Bidders Record for the sale of the
property, and
(b)
the manner and form in which a Bidders Record is
to be made and kept.
Maximum penalty: 100 penalty
units.
s 68: Am 2003 No 40,
Sch 1.39 [1].