Auctioneers

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Auctioneers
L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Act
20 of 1913

Amended by
20 of 1929
5 of 1945
6 of 1993

Current Authorised Pages
Pages Authorised

(inclusive) by L.R.O.
1–11 ..

AUCTIONEERS ACT

CHAPTER 84:03

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2 Chap. 84:03 Auctioneers

Note on Subsidiary Legislation

This Chapter contains no subsidiary legislation.

Note on Adaptation
1. Certain fees in this Chapter were increased by the Commission under paragraph 4 of the

Second Schedule to the Law Revision Act (Ch. 3:03). Where this occurs, a marginal reference
in the form normally indicating an amendment is made to LN 51/1980 (the Legal Notice by
which the President’s approval was signified).

2. Under paragraph 6 of the Second Schedule to the Law Revision Act (Ch. 3:03) the
Commission amended certain references to public officers in this Chapter. The Minister’s
approval of the amendments was signified by LN 120/1980, but no marginal reference is made
to this Notice where any such amendment is made in the text.

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Auctioneers Chap. 84:03 3

CHAPTER 84:03

AUCTIONEERS ACT

ARRANGEMENT OF SECTIONS
SECTION

1. Short title.
2. Definition of auctioneer.
3. Licence necessary.
4. Duration and conditions of licence.
5. Licence duty.
6. Board of Inland Revenue may refuse to issue licence, and may attach

conditions and may cancel licence.
7. List of licensed auctioneers to be published.
8. Penalty for acting without licence.
9. Board or ticket containing name and place of business of auctioneer.

10. Keeping of accounts by auctioneer.
11. Advertising property for sale.
12. Remuneration payable to auctioneers.
13. Permission to head of department to sell at auction.
14. Exception.

Contract for special remuneration.
15. Recovery of penalties.

FIRST SCHEDULE.
SECOND SCHEDULE.
THIRD SCHEDULE.

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4 Chap. 84:03 Auctioneers

CHAPTER 84:03

AUCTIONEERS ACT

An Act relating to Auctioneers.

[6TH OCTOBER 1913]

1. This Act may be cited as the Auctioneers Act.

2. Every person who exercises or carries on the business of
an auctioneer or who acts in such capacity at any sale, and every
person who sells or offers for sale any goods, chattels, lands or
any interest therein, at any sale where any person becomes the
purchaser of the same by competition, and being the highest
bidder either by being the single bidder or increasing upon the
biddings made by others, or decreasing on sums named by the
auctioneer or person acting as auctioneer, or other person at the
sale, or by any other mode of sale by competition, shall be deemed
to be an auctioneer.

3. No person shall, except as provided below, carry on the
business of an auctioneer unless he has obtained from the Board
of Inland Revenue a licence in the form in the First Schedule.

4. Every such licence shall continue in force from the day on
which it is granted until the 31st of December next ensuing, and
shall be subject to such conditions as are specified therein.

5. (1) The amount payable to the Board of Inland Revenue
for every such licence shall be five hundred dollars except that in
the case of a person who at the commencement of this Act held a
general certificate as a bailiff under the Landlord and Tenant
Ordinance, and the Rules made or in force thereunder, the annual
amount payable by him for an auctioneer’s licence shall, so long
as he holds such a certificate continuously, be twenty dollars.

(2) All such amounts shall form part of the
Consolidated Fund.

1950 Ed.
Ch. 31. No. 10.
20 of 1913.

Commencement.

Short title.

Definition of
auctioneer.

Licence
necessary.

First Schedule.

Duration and
conditions of
licence.

Licence duty.
[51/1980
6 of 1993].

Ch. 27. No. 16.
1950 Ed.

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6. (1) The Board of Inland Revenue may refuse to grant
any such licence, and may, in its discretion, attach such conditions
thereto as it may think expedient, and may cancel the licence in
the event of the breach of any such condition being proved to its
satisfaction.

(2) The Board of Inland Revenue shall not grant a licence
to a pawnbroker as defined by the Pawnbrokers Act, or to any
servant, apprentice or agent of a pawnbroker.

7. The Board of Inland Revenue shall, at the beginning of
every month, cause to be published in the Gazette and in one or
more of the local newspapers a list of the persons to whom licences
have been granted by it during the preceding month; and if at any
time the Board cancels any such licence it shall publish in like
manner as mentioned above the name of the person whose licence
has been so cancelled.

8. Any person who carries on the business of an
auctioneer without being duly licensed is liable to a fine of
two thousand dollars.

9. (1) Before beginning any auction, every auctioneer shall
affix or suspend, and shall keep the same so affixed or suspended
during the whole time the auction is being held, a board or ticket
containing his true and full given name and surname and place of
business, painted or written in large letters publicly visible and
legible, in some conspicuous part of the room where the auction is
held, so that all persons may easily read the same.

(2) Any auctioneer acting in contravention of this section
is liable to a fine of one thousand dollars.

10. (1) Every auctioneer shall keep a regular and correct
account of all property sold by him at auction, the account to be
written in a book to be kept for that purpose in the form contained
in the Second Schedule, and every such account shall be opened
to the inspection of every person interested, except that it shall be

Board of Inland
Revenue may
refuse to issue
licence, and may
attach
conditions and
may cancel
licence.

Ch. 84:05.

List of licensed
auctioneers to
be published.

Penalty for
acting without
licence.

Board or ticket
containing name
and place of
business of
auctioneer.

Keeping of
accounts by
auctioneer.

Second
Schedule.

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LAWS OF TRINIDAD AND TOBAGO

6 Chap. 84:03 Auctioneers

a sufficient compliance with this subsection if an entry is made in
the book of the name of the person to whom the property sold
belongs, together with a reference to some other book where is
kept an account containing the particulars mentioned in the form
mentioned above.

(2) Any person who fails to keep such account in the
manner mentioned above, or hinders or prevents any person
interested from inspecting any such book, is liable to a fine of four
hundred dollars.

11. (1) Save and except in the case of—
(a) goods, wares and merchandise of a perishable

nature which it may be necessary to sell at auction
without delay;

(b) goods, wares and merchandise imported into
Trinidad and Tobago or brought from Trinidad to
Tobago or from Tobago to Trinidad and in each
case damaged on the voyage and ordered, after
survey in the customary manner, to be sold for
the benefit of those whom it may concern; or

(c) pledges sold at auction under the provisions of
the Pawnbrokers Act,

an auctioneer shall not sell by auction any property unless such
auctioneer has inserted and published for eight days prior to the
date of any such sale an advertisement in one or more of the local
newspapers, disclosing the name of the person or persons by whose
order the sale by public auction is to take place and the name of
the owner of such property, and containing a full and accurate
description of the property to be sold as mentioned above except
that the period of eight days may be reduced to a period of not less
than four days on the direction in writing under his hand given by
the owner to the auctioneer.

(2) Any person acting in contravention of this section is
liable to a fine of one thousand dollars.

Advertising
property for
sale.

Ch. 84:05.

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12. (1) On a sale or attempted sale at auction of the properties
referred to in the Third Schedule an auctioneer is entitled, in respect
of the sale or attempted sale, to demand and to receive the relevant
commission or fee in the Schedule specified.

(2) Any auctioneer who demands, receives or retains any
commission or fee in excess of the commission or fee hereby
chargeable is liable to a fine of four hundred dollars.

(3) Where a person is convicted of an offence under this
section the Magistrate shall, in addition to any penalty he may
impose thereunder, order the person so convicted to pay to the
person entitled thereto, any sum of money received or retained in
contravention of this section, and the sum so ordered to be paid
shall be deemed a sum adjudged to be paid within the meaning of
section 67 of the Summary Courts Act.

13. (1) Notwithstanding anything contained in this Act,
the Minister may grant permission to the head of any
department in the public service to sell at auction, by himself
or by any of his officers or clerks authorised by him in writing,
any property on account of the department or branch of the
service to which he belongs.

(2) The permission may be either general or for a
special occasion. If it is general, it shall subsist until it is revoked
by the Minister.

(3) In this section “Minister” means the Minister
responsible for Finance.

14. (1) Nothing contained in this Act shall apply to sales
at auction—

(a) under any judgment, order, or decree, or under
any process of any Court in Trinidad and Tobago;

(b) directed by any Municipal or Water Authority for
non-payment of rates, charges or expenses; or

(c) under distress for non-payment of rent to less
amount than eight hundred dollars.

Remuneration
payable to
auctioneers.
Third Schedule.

Ch. 4:20.

Permission to
head of
department to
sell at auction.

Exception.
[51/1980].

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8 Chap. 84:03 Auctioneers

(2) Nothing contained in this Act shall operate to prevent
any auctioneer from making a contract for the sale of any property
for remuneration at a less rate than that specified hereunder.

15. All penalties under this Act may be recovered on summary
conviction in the name of the Board of Inland Revenue or some
person authorised by the Board in writing either generally or in a
special case.

Contract for
special
remuneration.

Recovery of
penalties.
[5 of 1945].

FIRST SCHEDULE

FORM OF LICENCE TO PRACTISE AS AN AUCTIONEER

I hereby authorise ............................., of .......................... to carry on business
as an Auctioneer.

This licence expires on the 31st December, 20......, and is issued subject to
the conditions on the back hereof. Any breach of the said conditions involves
the cancellation of the licence.

The .......................... day of .............................., 20...... .

......................................................
Board of Inland Revenue.

Section 3.

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Auctioneers Chap. 84:03 9

SECOND SCHEDULE

FORM OF SALES BOOK

Sale of Property belonging to—

Date Description Purchaser Securities Amount Terms ofof Property Payment

Section 10.

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THIRD SCHEDULE
PART I

WHERE A SALE IS EFFECTED
Commission, in addition to all out-of-pocket expenses and storage fees,

if any, calculated on the purchase price at the undermentioned rates shall
be chargeable:

On a sale of personalty of every description, at the rate of 71/2 per cent.
On a sale of realty, equities of redemption, or chattels real, at the

rates following:
Not exceeding $500 … …
E x c e e d i n g $ 5 0 0 a n d n o t

exceeding $2,500 … …
Exceeding $2 ,500 and no t

exceeding $5,000 … …
Exceeding $5 ,000 and no t

exceeding $25,000 … …

Exceeding $25,000 and not
exceeding $50,000 … …

Exceeding $50,000 … …

5 per cent.

$25

1 per cent.

3/4 per cent, provided that the
commission shall in no case be less
than $75.

1/2 per cent, provided that the
commission shall in no case be less
than $200.

1/4 per cent, provided that the
commission shall in no case be less
than $250.

If the property is sold by private contract, with the authority of the vendor,
either before or at the auction, the commission is payable; or if the property is
sold by private contract after the auction, provided the authority to sell is
continued after the auction, the commission is payable.

PART II

WHERE A SALE IS NOT EFFECTED
The following fixed fees, in addition to all out-of-pocket expenses and storage

fees, if any, shall be chargeable in respect of every description of property:
Where the reserved price does not exceed $500, a fee of …
Where the reserved price exceeds $500 and does not

exceed$1,000, a fee of … … … … …
Where the reserved price exceeds $1,000 and does not

exceed $2,000, a fee of … … … … …
Where the reserved price exceeds $2,000 and does not

exceed $3,000, a fee of … … … … …

$7.50

$15.00

$20.00

$30.00

Schedule of
auctioneers’
remuneration.

Section 12.
[51/1980].

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Auctioneers Chap. 84:03 11

Where the reserved price exceeds $3,000, a fee of … $40.00
On a mortgagee’s sale where no reserved price is fixed, the reserved price

shall be deemed to be the amount secured by the mortgage. In other cases
where no reserved price is fixed, the reserved price shall be deemed to be the
value of the property as agreed between the person offering the property for
sale and the auctioneer.

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