Section 2: Appointment of auctioneers
consolidated text (as at 2013). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
2. Appointment of auctioneers
(1) The Minister may appoint, in such manner and on such terms and
conditions as may be prescribed, auctioneers who shall have the sole right
to—
(a) conduct voluntary sales by public auction of; and
(b) value and appraise,
movable property, other than stocks, shares, interests, obligations or other
incorporeal rights (meubles incorporels).
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(2) Any person, other than an auctioneer, who conducts sales under subsection (1) shall commit an offence and shall, on conviction, be liable to a
fine not exceeding one-fourth of the value of the property sold.
(3) Notwithstanding subsection (2), any person, other than an auctioneer,
who is authorised by law, may conduct sales of movable property in—
(a) matters relating to estates of deceased persons;
(b) bankruptcy; or
(c) execution of judgments of Courts.
(4) Nothing in this section shall apply to sales by wholesale, of goods
and local produce, between merchants and traders according to the usages
of trade.
[S. 2 amended by Act 43 of 1993; s. 41 of Act 27 of 2013 w.e.f. 21 December 2013.]
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