Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“Defines the terms “auctioneer”, “licensing authority”, and “owner”.”
Defines the terms “auctioneer”, “licensing authority”, and “owner”. Anyone who sells or offers for sale property at a competitive sale is deemed to be carrying on the business of an auctioneer. Licences must be in one of the forms set forth in the Second Schedule to this Act, with such alterations as may be necessary. Persons must not carry on the business of an auctioneer unless licensed under this Act; contravention is an offence punishable by a fine not exceeding one thousand five hundred shillings. Licences for auctioneers are two kinds: general licences let the licensee operate anywhere in Uganda; local licences let the licensee operate only in the place named in the licence.
02
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03
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Defines the terms “auctioneer”, “licensing authority”, and “owner”.
Section 1
Licences for auctioneers are two kinds: general licences let the licensee operate anywhere in Uganda; local licences let the licensee operate only in the place named in the licence.
Section 4
Annual licences expire on 31 December each year; half-yearly licences expire on 30 June or 31 December following issue, unless previously revoked.
Section 9
Specifies when owners, agents and auctioneers may or may not bid at auctions, requires auctioneers to announce their own bids, allows purchasers to refuse purchases when bidding rules are breached, and sets penalties for auctioneers who knowingly contravene…
Section 14
The Minister may make rules, including requiring licence applicants to give security, prescribing security amount and form, setting maximum auctioneer commission, prescribing penalties up to 750 shillings, and allowing licence suspension or revocation by a…
Section 18
04
Source and current-law status
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