Rules of the Auction

Public Auction Conducted by the Sheriff of Higher and Lower Court

1. 

 

The envisaged auction sale will take place as per notices of sale in execution “Fixed Property” The sale in execution will commence at the mentioned time and will not be delayed to enable any specific person or any other person, in general, to take part in a sale in execution.

 

 

2. 

 

The auction will be conducted by either the Sheriff or his appointed deputy. The first mentioned being the duly appointed sheriff in terms of section 2 of the Sheriff act 90 of 1986, as amended, or the duly appointed deputies.

 

3. 

 

Section 45(2) of the Consumer Protection Act states: 

“...(2) When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction”

 

4. 

 

A person attending an auction to bid must register as a bidder and comply with the requirements of;

• The Consumer Protection Act 68 of 2008, as amended;

• The Financial Intelligence Centre Act 2001 (FICA) in respect of the establishment and verification of identity.

 

Further requirements for registration as a bidder:

A person attending the auction to bid on behalf of another entity must produce a letter of authority, expressly authorising him/her to bid as such. If a person will be bidding on behalf of a company, the letter of authority must appear on the letterhead of the company and must be accompanied by a certified copy of the resolution authorising him/her to do so. Both the bidder and mandator must comply with the requirements of the Financial Intelligence Centre Act 2001 (FICA), in respect of the establishment and certification of Identity.

 

5. 

 

In accordance with the prescription of Section 22 of the Sheriff’s act 90 of 1986 as amended, all proceeds of the sale together with the commission as prescribed in the applicable court rule tariffs will be deposited into the Sheriff’s trust account.

 

6. 

 

The reason for auction will be announced at the commencement thereof.

The bidder’s record (Reg 26(2) of Act 68 of 2008), as amended and the vendu roll – Reg 28(4) of Act 68 of 2008, (as amended) are available for inspection during office hours.

A breakdown of the total cost of advertisement and conducting an auction together with a statement indicating the additional cost and how such costs are computed will on request be available after the auction as soon as practically possible.

If these rules of auction are amended after their initial publication, such an amendment will expressly be indicated by the auctioneer.

These rules will not be read out at the auction in order to validate it and will be made available for inspection at the above mentioned address of the office of the Sheriff Halfway House – Alexandra, at least 2 hours prior to commencement of the auction.

Inspection of;

Movable goods offered for sale may be done at the address advertised, 2 days prior to the commencement of the sale in execution.

Immovable property for sale, cannot be guaranteed due to the nature of the sale.

It is hereby certified that the rules of the auction are drafted to the best of (our) knowledge in accordance with the requirements of Regulations 21 of the Consumer Protection Act of 2008 as amended.

 

GENERAL NOTIFICATION TO ALL CONSUMERS 

In order to further comply the sheriff should make available, display, or announce further information related to the auction as such:

 

GENERAL NOTIFICATION

 

This is a sale in execution pursuant to a judgement obtained in the relevant Court. Rules of this auction are available 24 hours before the sale at the office of the Sheriff and subject to:

1. Registration as a buyer, subject to certain conditions, is required in terms of the Consumer Protection Act.

2. FICA requirements: proof of identity and address particulars;

3. Payment of registration monies and compliance with the registration conditions;

4. All other conditions of sale imposed by the Sheriff in terms of relevant legislation;

5. The Sheriff or his deputy will conduct the sale (auction);

6. Advertising costs at current publication tariffs and sale costs according to the court rules will apply

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