List of summaries, consolidations and regulations
The Auctioneers Act
The Auctioneers Act regulates the sale of property by auction and requires that auction sales be conducted by licensed auctioneers and auction companies.
Certain types of auctions are excluded from coverage of the Act and from licensing requirements:
The Act requires auction companies to keep proper records and accounts showing money received and money paid out.
Licences are issued by the Registrar of the Licensing and Investigation Section of the Consumer Protection Division, Financial and Consumer Affairs Authority (FCAA). The Registrar may refuse to grant a licence or may make a licence subject to terms, conditions or restrictions. The Registrar may also suspend or cancel a licence.
Auction companies may be required to file bonds as part of their application for a licence. The amount of the bond is prescribed by the Registrar.
An applicant for a licence or a licensee who is dissatisfied with a decision of the Registrar may apply to the Registrar for a hearing to reconsider the matter. Appeals from the Registrar's decision are to the Court of Queen's Bench.