General Rules of Sale in Execution by way of public auction conducted by the office of the Sheriff Bloemfontein West.
Auction Rules - Download as a Word document
1. The envisaged auction sale will take place as per notice of sale in execution on (date) at (time) at 4( c ) Manion road, Bloemfontein. The sale in execution will commence at the above mentioned time and will not be delayed to enable any specific person or none persons in general to take part in the sale in execution.
2. The auction will be conducted by either or (Christian Hattingh de Wet), (A J Kruger), ( T I Khauli), the first mentioned the duly appointed sheriff for (Bloemfontein West) in terms of section 2 of the Sheriff Act 90 of 1986, as amended and the latter, duly appointed deputies for the (Sheriff Bloemfontein West, from 6A Third street, Bloemfontein, 9301, telephone number 051 – 447 8745).
3. Section 45(2) of the Consumer Protection Act states: “…(2) When goods one put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to the subject of a separate transaction.”
4. 4.1 A person attending an auction to bid, must register as a bidder and comply with the requirements of; (a) The Consumer Protection Act 68 of 2008, as amended (b) The Financial Intelligence Centre Act 2001 (FICA) in respect of the establishment and verification of identity. (c) The further requirements for registration as a bidder. (d) Conditions of sale.
4.2 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 the mandator must comply with the requirements of the Financial Intelligence Centre Act 2001 (FICA), in respect of the establishment and verification of identity.
4.3 In the event of the purchaser being the execution creditor who is also a consumer exempted in terms of Section 5(2)(b) from the provisions of the Consumer Protection Act 68 of 2008, the execution creditor shall be required to pay the applicable commission, without demand within seven days, and such execution creditor shall not be required to make any deposit nor furnish a guarantee as provided for, except insofar as the purchase price may exceed the total amount of the bondholder’s award in terms of the sheriff’s distribution plan. The difference between the purchase price and their award, if any, plus interest as provided for, is to be paid or secured to the sheriff, within 21 days from the sale, without demand.
5. In accordance with the prescriptions of Section 22 of the Sheriffs’ act 90 of 1986, as amended, I, (C H de Wet), have a trust account into which all proceeds of the sale will be deposited. Commission as prescribed in the applicable court rule tariffs will be deducted there from.
6. 6.1 The reason for the auction will be announced at the commencement thereof.
6.2 The bidder’s record (Reg 26(2) of Act 68 of 2008, as amended) and the vendor roll (Reg 28(4) of Act 68 of 2008, as amended) are available for inspection during normal hours.
6.3 A breakdown of the total costs of advertisement and conducting an auction together with a statement indicating additional costs and how such costs are computed will be made available after the auction.
6.4 If these rules of auction are amended after their initial publication, such amendment will be expressly indicated by the auctioneer.
6.5 These rules will not be read out at the auction in order to validate it and will be made available for inspection at the abovementioned address of the office of the Sheriff Bloemfontein West at least 24 hours prior to the commencement of the auction.
6.6 Inspection of:
6.6.1 movable goods offered for sale may be done at the address as advertised, 30 minutes prior to the commencement of the sale in execution.
6.6.2 immovable property for sale, cannot be guaranteed due to the nature of the sale,
It is hereby certified that the rules of auction are drafted to the best of (our) knowledge in accordance with the requirements of Regulations 21 of the Consumer Protection Act 68 of 2008, as amended.(URL http://www.info.gov.za/view/DownloadFileAction?id=99961 )
This is done and signed on this ___ day of ___ 20___.
________________ (C H de Wet)
________________ (A J Kruger)
________________ (T I Khauli)
The Financial Intelligence Centre Act, 2001 (Act No 38 of 2001), as amended; published in Notice R.1595 in Gazette No 24176 of 20 December 2002.
1 https://www.fic.gov.za/SiteContent/ContentPage.aspx?id=14 ; 2 https://www.fic.gov.za/DownloadContent/RESOURCES/GUIDELINES/regulations.pdf 3 http://www.absacapital.com/Absa%20Capital%20Documents/FIC%20Act.pdf