LAGOS STATE SALE BY AUCTION LAW

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LIST OF LAWS OF LAGOS, [ALPHABETICAL]  

SALES BY AUCTION LAW

ARRANGEMENT OF SECTIONS

1.         Citation.         

2.         Interpretation.

3.         Business of auctioneer.            

Licensing of Auctioneers 

4.         Auctioneer to hold licence.   

5.         Appointment of licensing authority.  

6.         Licences: areas to which they may extend, forms and fees. 

7.         Licences to be granted to individuals.          

8.         Application for and grant of licence.

9.         Security to be given by auctioneer.   

10.        State Commissioner may suspend or revoke licence on certain conditions.

11.        Duration of licences.  

12.        Occasional licence.   

13.        Licences to agents of auctioneers.    

14.        Suspension and revocation of agent’s licence.         

15.        Agent ceasing to be in employer’s service disqualified.        

16.        Register of licences.    

17.        Auctioneers to accept the sale of all property offered by owners.   

18.        Auctioneer’s licence not to authorise sale of intoxicating liquor.     

19.        Notice of sale of land.           

20.        Notice, catalogue and report of sale to be furnished to divisional officer.  

21.        Auctioneer’s name and address to be published at sale.     

22.        Sales subject to a reserve, and vendor’s right to bid.           

23.        Auctioneer may recover purchase-money.    

24.        Employment to sell by action does not authorise private sale.         

25.        Rates of commission chargeable on auction sales; repeals etc.      

26.        Penalties incurred by agents. 

27.        Order of suspension or revocation of licence.           

Miscellaneous 

28.        Savings as to sales in execution of decrees.  

29.        Auctioneer prohibited from preparing conveyances.           

30.        Power to make regulations.  

First Schedule   Forms of Licence        

Second Schedule                    

SALES BY AUCTION LAW

A Law to provide for the licensing of auctioneer and to regulate sales by auction.

[F. & L. 1958, Cap. 187. L.N. 257 of 1959. L.N. 112 of 1964.]

[21st June, 1971]                    [Commencement.]

LAWS OF LAGOS STATE

LAWS OF THE FEDERAL REPUBLIC OF NIGERIA