A vendor's brother bids at an SA auction on the vendor's behalf without any announcement, and the auctioneer knows who he is acting for. What is the maximum fine for this offence?
Correct Answer
A) $20,000
Section 24N of the Land and Business (Sale and Conveyancing) Act 1994 (SA) prohibits a person making a bid on a vendor's behalf and prohibits an auctioneer taking a bid known to be made by or for the vendor. The maximum penalty is a fine of $20,000.
Why This Is the Correct Answer
The SA handbook states the maximum penalty under section 24N is a $20,000 fine.
Why the Other Options Are Wrong
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