Page:Mock Auctions Act 1973 (New South Wales).pdf/2

290 Mock Auctions.

3. (1) In this Act, except in so far as the context or subject matter otherwise indicates or requires—

“competitive bidding” in relation to the sale of goods includes any mode of sale whereby prospective purchasers are enabled to compete for the purchase of goods whether by way of increasing bids or by the offer of goods to be bid for at successively decreasing prices or otherwise;

“lot to which this Act applies” means a lot consisting of, or including one or more, prescribed articles;

“prescribed articles” means any plate, plated articles, linen, china, glass, books, pictures, prints, furniture, jewellery, articles of household or personal use or ornament or any musical or scientific instrument or apparatus and includes any article for the time being prescribed as an article to which this Act applies;

“sale of goods by way of competitive bidding” means any sale of goods at which the persons present, or some of them, are invited to buy articles by way of competitive bidding;

“stated” in relation to a sale of goods by way of com­petitive bidding means stated by or on behalf of the person conducting the sale by an announcement made to the persons for the time being present at the sale.

(2) For the purposes of this Act—
 * (a) any bid stated to have been made at a sale of goods by way of competitive bidding shall be conclusively presumed to have been made and to have been a bid of the amount stated;