AUCTIONEERS’ BILL.

Waikato Times, Volume 104, Issue 17501, 7 September 1928, Page 6

AUCTIONEERS’ BILL.

IMPORTANT AMENDMENT. NIGHT SALES PERMITTED. SEVERAL PROPOSALS DROPPED. WELLINGTON, Thursday-. The Auctioneers Bill has been considerably altered as a result of its examination by the Statutes Revision Committee of the House. The proposal to prohibit night auction sales has been abandoned, and the stipulation that at sales lots of fish, shell fish, fruit and vegetables must be sold to the highest bidder, has been eliminated from the bill. The committee has also struck out the clauses providing for the payment into a trust account of the proceeds from sales, and consequentially the power to issue regulations providing for annual audit, production of books, etc. The suggestion that regulations should be issued fixing the maximum rates of commission which may be charged by auctioneers for their services in transactions has also been dropped, as has also the proposal to issue regulations prescribing penalties for breaches of any regulations issued under the Act. The requirement to furnish accounts of sales within seven days of demands has been modified to permit of agreements being made between auctioneers and their clients. Fidelity bonds are fixed at £SOO, but where additional licenses are 'required the aggregate amount of the bonds is not to exceed £2500. it will not now’ be necessary to state in the license the place of business of the holder, w’ho is to be authorised -to appoint someone to relieve his accredited auctioneer during the progress of a sale.