Intellectual Property Rights from Publicly Financed Research and
R 385
Consumer Protection Act, 2008 (Act No. 68 of 2008)RegulationsConsumer Protection Act Regulations29. Mock auction |
| 1) | A mock auction is an auction in which— |
| a) | goods are sold for less than the highest bid, or part of the purchase price is repaid or credited to the purchaser; |
| b) | the right to bid for goods is restricted to persons who have bought or have agreed to buy other goods; or |
| c) | any goods are given away as gifts. |
| 2) | No person may promote, facilitate, conduct or take part in a mock auction. |
| 3) | If it can be proved that the reduction in the purchase price or the repayment credit was due to a defect which the auctioneer only became aware of after the highest bid was made, or because of damage sustained after the highest bid was made, the auction will not be considered to be a mock auction. |
| 4) | No person may promote, organize, participate in or benefit from any kind of conspiracy between an auctioneer, any participants in an auction or any other persons who agree not to bid against each other at an auction or who otherwise conspire to decrease or increase the number or amounts of bids offered at auction. |
