AUCTIONEERS TO TAKE OUT LICENSES AFTER APRIL, 1929

Manawatu Times, Volume LIII, Issue 6671, 26 July 1928, Page 14

AUCTIONEERS TO TAKE OUT LICENSES AFTER APRIL, 1929

Effect of Legislation Introduced in House disqualifications . AND FIDELITY BONDS For Press Association. WELLINGTON, July 24. The Auctioneers’ Bill introduced today, provides that after April 1, 1929, all auctioneers • will bo required to license under the new Act. The duration of new licenses is to ba a year. Publicans, pawnbrokers, and undischarged bankrupts aro disqualified from obtaining auctioneers’ licenses. Applicants will bo required to deposit a fidelity bond of £SOO, which may enure so as to apply to renewals of licenses. Every application for a license and any objections to it shall bo heard before a Magistrate who will require evidence'as to ,the character and financial position of the applicant. Auctioneers carrying on business under trade names arc not to change them without the consent of the Magistrate. There is to bo power to make special districts comprising sparsely populated parts of the Dominion for which special auctioneers’ licenses may bo issued at a fee of £lO if they arc to take effect after March 31 and hot later thah September 30 in any year, and £5 in other eases. The fee for ordinary licenses is to be £4O if they take effect after March 31 and before September 30, and £lO in other cases. The Bill proposes to prohibit night auctions with certain exceptions, viz., Gand, the plans of which have been exhibited for two clear days? tallow, wool, and books sold only from catalogues available for daylight inspection; all goods the bona fide property of church committees, hospital boards, or school committees, and exhibits at horticultural shows, which may bo sold without limit as to time; while a live stock sale commenced before 2 p.m. may continue until ,8 p.m. ~ * ’ In connection with these exceptions

auctioneers engaged will not be entitled 1 to make a charge for their services after 6 p.m. ' Fresh fish may bo sold, at auction at any time, but no reserve,, can bo enforced, the auctioneer being required to accept the offer of the highest bidder. AH proceeds must be paid into a trust account , and except with tnc written consent of the Minister of Internal Affairs an account of the sale together with tho, proceeds minus commission, ■must be forwarded to the clients within days of tho sale. , - ; fences- against the- Act include selling by auction without authority, holding out as an auctioneer without a license, lending or hiring of licenses, failure to exhibit a license on demand, neglect to ' render . an account or pay Over the proceeds of a sale, and breach pf duty with respect to. trust funds. "Tho monetary penalties range from £lO to £IOO. Two years' imprisonment is, laid flown as the maximum penaltyfor misappropriation, theft or falsifying of accounts. '1 . . Regulations will provide among other things for flxihgtho various maximum rates of commission which, may be charged by auctioneers for their services in respect of transactions of a defined (nature, Exempted from the provisions of the Act are Government sales, sales under writ or process, and public pound, sales.