TIGHTER CONTROL

Poverty Bay Herald, Volume LIV, Issue 16706, 25 July 1928, Page 6

TIGHTER CONTROL

AUCTIONEERS’ LICENSES NEW BILL PRESENTED (Parliamentary Reporter.) WELLINGTON, this day. ; What is termed in its title “agi Act to make better provision with respect to the licensing of auctioneers and the conduct of their business,” was introduced by Governor’s Message in the House yesterday. Nearly half the measure sets out- the method under which auctioneers may be licensed, the present system being changed in many details. Licenses will be issued annually by magistrates, but in sparsely populated districts a special area may be constituted for this purpose, and the license fee will be £lO annually, while in other districts the yearly fee is £4O, payable to the local authority'. There is to be a fidelity bond for £SOO, and magistrates, before granting a license, must satisfy themselves as to the applicant’s character and financial position. Applications for licenses must be advertised, and objections may be offered before the magistrate. A register of auctioneers will be kept by the Minister of Internal Affairs, Night auctions are to he prohibited, but there are exceptions. Live stock auctions commenced not later than 2 p.m. may be.continued.till 8 p.m.. Land is also excepted if plans have been exhibited two clear days,' prior to the sale, and' also tajlpvf arid wool. Rooks sold from a. catalogue, after, an opp«..tunity has been given for a daylight inspection, and all goods of any church, hospital board, or school committee, or exhibits at horticultural shows may be sold at night. Fresh fish is another exemption. SPECIAL TRUST ACCOUNT. The Bill expressly provides that at sales of fish, fruit, and vegetables the lots must be sold to the highest bidder, and an auctioneer is not to refuse a bid from any person willing to pay cash on the fall of the hammer. In the case of all sales, except property, it is obligato»y on the auctioneer to render an account of sales within 14 days, or within such longer period as the Minister may direct, and subject to lawful deductions the auctioneer must pay the receipts to the client. In the case of real property, an account of the sale and the proceeds must be rendered within seven days of the completion of the sale. According to the conditions, auction proceeds are to be paid to a trust account, and except for expenses, commission, and charges incidental to the sale, no other payment can be made from this account, except to persons lawfully entitled to it. The money in the trust account shall not be available for the payment of an .auctioneer’s debts, or be liable to attachment in the execution of an order of any court. There are a number of offences specified in tho Bill, including £lO for failing to render an account for sales within the prescribed time, or £IOO for failing to pay auction proceeds into the trust, account. Persons authorised by a magistrate are to have access to an auctioneer’s books and papers. Power is given to make regulations for an annual audit of auctioneers’ trust accounts, and prescribing maximum rates of commission.