Plain language law

New Zealand law explained for everyone

Auctioneers Act 2013

4: Interpretation

You could also call this:

“What important words mean in this law about auctions”

In this law, there are some important words you need to know:

An auction is when someone sells things for other people. You can bid on these things in real time, like in person, on the phone, or online. The sale is finished when the person running the auction (the auctioneer) says so.

The chief executive is the boss of the government department that looks after this law.

A person who manages a company can be a director or the top boss (like a CEO).

There’s a list of all the auctioneers, which is called a register. The person who keeps this list is called the Registrar.

A registered auctioneer is a person or company that’s allowed to run auctions according to this law.

The vendor is the person who owns the things being sold in the auction.

Remember, just because something is called an auction doesn’t always mean it’s an auction under this law. For example, if you’re buying something in an “Internet auction” where you deal directly with the seller, that’s not an auction according to this law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5788508.

Topics:
Business > Industry rules Money and consumer rights > Consumer protection
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3: Purpose of Act, or

"This law explains how auctioneers are registered and what rules they need to follow"

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5: Registration of person carrying on business as auctioneer, or

"You need to be registered to work as an auctioneer"

4Interpretation

  1. In this Act, unless the context otherwise requires,—

    auction means a process in which property of any kind (including goods, services, and interests in land) is offered for sale by an auctioneer on behalf of a vendor, and—

    1. bids for the property are placed with the auctioneer in real time, whether in person, by telephone, via the Internet, or by any other means; and
      1. the property is sold when the auctioneer so indicates

        chief executive means the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act

          person concerned in the management of a company means—

          1. a director of the company, as that term is defined in section 126 of the Companies Act 1993:
            1. the chief executive of the company, or any person occupying the equivalent position

              register means the register of auctioneers maintained by the Registrar under section 21

                registered auctioneer means an individual or a company that is registered under this Act as an auctioneer

                  Registrar means the Registrar of Auctioneers appointed under section 19

                    vendor, in relation to an auction, means the person whose property is offered for sale by an auctioneer.

                    1. To avoid doubt, a process of selling property is not necessarily an auction for the purpose of this Act just because it is described as an auction. For example, a process described as an Internet auction, but that provides that any contract of sale resulting from the process is a contract directly between the winner of the bidding and the seller of the property, is not an auction for the purpose of this Act.