36ZFAccount and payment of proceeds

1. Within 10 working days after the sale by auction of property, the auctioneer must provide to the vendor—

2. the balance of the proceeds of the sale payable to the vendor; and
3. an account of the sale, which must set out, at a minimum, the bid accepted from the purchaser, the amount of any tax, auctioneer's commission or other deductions, and the amount payable to the vendor.

4. However, unless the vendor and auctioneer have agreed otherwise, if the vendor requests an auctioneer to provide the balance of the proceeds and an account of the sale sooner than 10 working days after the sale, the auctioneer must comply with the request within 5 working days after the request is made.

5. An auctioneer need not comply with subsection (1) if—

6. the vendor—
   1. is in trade; or
   2. is selling goods other than goods of a kind ordinarily acquired for personal, domestic, or household use or consumption; and
7. the vendor agrees (expressly or impliedly) that subsection (1) need not apply.

8. This section does not apply to a sale by auction of land or an interest in land conducted by an agent, a branch manager, or a salesperson, licensed under the Real Estate Agents Act 2008, and the provisions of that Act apply instead.