AUCTIONEERS AND HOUSE AGENTS ACT, 1967 by cqb96228

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									AUCTIONEERS AND HOUSE AGENTS ACT, 1967

AN ACT TO AMEND AND EXTEND THE AUCTIONEERS AND HOUSE
AGENTS ACT, 1947

[9th May, 1967.]


BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:



[GA] Interpretation.   1. —(1) In this Act—
[GA]                   "the Accountant" means the Accountant attached to the
                       High Court by virtue of section 55 (1) of the Courts
                       (Supplemental Provisions) Act, 1961 ;
[GA]                   "bank" means a bank in which it is for the time being
                       lawful for a trustee (unless expressly forbidden) to invest
                       trust funds by placing them in an interest bearing deposit
                       account;
[GA]                   "client" includes (unless the context otherwise requires) a
                       person to whom a refund of a deposit is due;
[GA]                   "client account" means a current or deposit account in the
                       name of an auctioneer or house agent in the title of which
                       the word "client" appears and which is kept in a bank at a
                       branch in the State;
[GA]                   "company" means a company within the definition
                       contained in the Companies Act, 1963 ;
[GA]                   "the Official Assignee" means the person who is for the
                       time being the Official Assignee in Bankruptcy;
[GA]                   "Principal Act" means the Auctioneers and House Agents
                       Act, 1947 .
[GA]                   (2) References in this Act to auctioneers shall be construed
                       as referring only to persons required to be licensed as
                       auctioneers under the Principal Act and references in this
                       Act to house agents shall be construed as referring only to
                       persons required to be licensed as house agents under the
                       Principal Act.
[GA]                   (3) References in this Act to an account (being an account
                       in a bank) shall, unless the context otherwise requires,
                       include a reference to a deposit receipt.
[GA]                   (4) References in this Act to money for a client include
                       (unless the context otherwise requires) references to a
                       deposit paid to an auctioneer or house agent as a
                             stakeholder or otherwise paid to him in connection with the
                             purchase or renting of property where a right to the money
                             has not passed to a client.
[GA]                         (5) Save where the context otherwise requires, this Act
                             shall be construed as applying only to transactions carried
                             out by an auctioneer or house agent in his capacity as
                             auctioneer or house agent.
[GA] Increase of deposit     2. —Notwithstanding section 14 (a) of the Principal Act,
       in High Court.        the deposit maintained in the High Court under that Act
                             shall, in respect of any period beginning on or after the 6th
                             day of July, 1967, for which an auctioneer's licence or a
                             house agent's licence is in force, be of the value of five
                             thousand pounds, and the references in section 14 (d) (ii)
                             and section 15 (3) (b) of the Principal Act to two thousand
                             pounds shall be construed accordingly.
[GA] Substitution of one     3. —(1) Notwithstanding section 16 of the Principal Act, a
       form of deposit for   person who has made a deposit in money in the High Court
       another.
                             under that Act may obtain a release of the deposit on
                             condition that he has made in the High Court either a
                             deposit of authorised securities of the required value or a
                             deposit of a guarantee bond which is retrospective to such
                             extent as may be necessary in order to meet any proper
                             claim in respect of which money could have been paid out
                             of the released deposit.
[GA]                         (2) Notwithstanding section 16 of the Principal Act, a
                             person who has made a deposit in the High Court under
                             that Act by the deposit of authorised securities may obtain
                             a release of the deposit on condition that he has made in the
                             High Court either a deposit in money to the required
                             amount or a deposit of a guarantee bond which is
                             retrospective to such extent as may be necessary in order to
                             meet any proper claim in respect of which money could
                             have been paid out of the released deposit.
[GA]                         (3) In this section—
[GA]                         "guarantee bond" means a guarantee bond of the type
                             mentioned in section 14 (d) (ii) of the Principal Act;
[GA]                         "authorised securities" means securities authorised by rules
                             of court for the investment of moneys under the control of
                             the High court;
[GA]                         "required value" means the value required by either section
                             14 of the Principal Act or section 2 of this Act, as may be
                             appropriate.
[GA] Keeping and             4. —(1) An auctioneer or house agent shall at all times
       preservation of       keep properly written up such accounts as may be
       accounts.         necessary to show all his dealings with, and particulars of
                         and information regarding, moneys received or held by him
                         for, or paid by him to or on behalf of, each client.
[GA]                     (2) An account kept by an auctioneer or house agent under
                         this section shall be preserved for at least six years from
                         either the date of the last entry therein or the date of the last
                         dealing with a client's money which is required by this Act
                         to be recorded therein, whichever is the later.
[GA] Keeping of Client   5. —(1) ( a ) Every auctioneer and every house agent shall
       accounts.         open and keep a client account and may, if he thinks fit,
                         open and keep more than one client account.
[GA]                                   ( b ) An auctioneer or house agent who keeps
                                       more than one client account shall keep all
                                       such accounts at the same bank unless the
                                       District Court, for special reasons, otherwise
                                       permits.

[GA]                     (2) When an auctioneer or house agent receives money for
                         a client, he shall, without unnecessary delay, pay it into a
                         client account unless the money—
[GA]                                   ( a ) is received in the form of cash and is
                                       paid without unnecessary delay in cash to the
                                       client;

[GA]                                   ( b ) is received in the form of a cheque or
                                       other negotiable instrument which is endorsed
                                       over and delivered without unnecessary delay
                                       to the client;

[GA]                                   ( c ) is paid without unnecessary delay into a
                                       separate banking account in the name of the
                                       client or some person (not being the
                                       auctioneer or house agent or a partner,
                                       employee or agent of the auctioneer or house
                                       agent) named by the client or into a joint
                                       banking account in the names of the
                                       auctioneer or house agent and the client; or

[GA]                                   ( d ) is invested by him at the written request
                                       and for the benefit of the client, in a manner
                                       in which it is for the time being lawful for a
                                       trustee (unless expressly forbidden) to invest
                                       trust funds.

[GA]                     (3) Where an auctioneer or house agent holds or receives a
                         cheque or draft which includes money for a client, he shall,
       if practicable, apportion the cheque or draft and pay into
       the appropriate client account the portion representing the
       money for the client as if he had received a separate cheque
       for that amount and, if such apportionment is not
       practicable, he shall pay the cheque or draft in full into the
       client account and, where he has so paid the cheque or draft
       in full into the client account, he may withdraw therefrom
       the money that is not money for a client.
[GA]   (4) No payment other than money for a client shall be
       made into a client account save such payment as is
       authorised to be made under subsection (3) or is necessary
       in order to open or maintain the account or to replace any
       sum drawn from it by mistake or accident.
[GA]   (5) Money shall not be withdrawn by an auctioneer or
       house agent from a client account unless—
[GA]                 ( a ) it is properly required for a payment to
                     or on behalf of a client whose money is in
                     that account, or

[GA]                 ( b ) it is properly required for or towards
                     payment of fees or commission due to the
                     auctioneer or house agent by a client whose
                     money is in that account, or for or towards
                     reimbursement of expenses incurred by the
                     auctioneer or house agent in connection with
                     the client's business or of money paid to a
                     client by the auctioneer or house agent out of
                     his own funds (either in the circumstances
                     specified in subsection (10) or otherwise to
                     facilitate prompt payment of the client), or it
                     is a withdrawal authorised by subsection (3).

[GA]   (6) A withdrawal under subsection (5) ( b ) shall be made
       by either—
[GA]                       (i) a cheque drawn in favour of the
                           auctioneer or house agent, or

[GA]                       (ii) a transfer to a bank account (not
                           being a client account) in the name of
                           the auctioneer or house agent.

[GA]   (7) Where an auctioneer or house agent withdraws money
       from a client account—
[GA]                 ( a ) unless the withdrawal is being made by a
                     cheque drawn in favour of a client, the
                     auctioneer or house agent shall endorse on the
       cheque, withdrawal docket or draft requisition
       form the words "Fees in respect of" or the
       words "Outlay in respect of" or (where a
       payment is being made to a third party) the
       words "On behalf of" or (in any case) such
       other words as will explain the nature of the
       withdrawal, followed in every case by the
       name of the client;

[GA]   ( b ) he shall preserve the cheque or draft
       when returned by the bank for as long as he is
       required by section 4 to preserve the
       corresponding account.

[GA]   (8) ( a ) Money withdrawn from a client
       account for or in respect of a client shall not
       exceed the total of the moneys held for the
       time being in that account on account of that
       client.

[GA]   ( b ) Money withdrawn from a client account
       for or towards reimbursement of money paid
       to a client by the auctioneer or house agent
       out of his own funds shall not exceed the
       amount paid to the auctioneer or house agent
       in respect of the corresponding transaction on
       behalf of that client and properly available in
       the client account for the purposes of such
       reimbursement.

[GA]   (9) ( a ) If it appears to the Minister for
       Justice that the provisions of this section are
       inadequate to prevent the negligent or
       fraudulent handling of money for a client or
       are otherwise insufficient to protect the
       interests of clients and that other provisions
       (either in substitution for or in addition to the
       existing provisions or any of them) governing
       the payment of money into and the
       withdrawal of money from client accounts
       would be in the public interest, he may make
       regulations incorporating such other
       provisions.

[GA]   ( b ) Regulations under paragraph (a) may
       provide that, in circumstances specified in the
       regulations, being circumstances in which an
       auctioneer or house agent is required by or
       under this section to pay money into a client
                                           account, the auctioneer or house agent shall
                                           either—

[GA]                                           (i) pay the money into an interest bearing
                                               client account and pay the interest to the
                                               client or other person to whom the
                                               money belongs, or

[GA]                                           (ii) pay to the client or other person to
                                               whom the money belongs the sum
                                               equivalent to the interest that would have
                                               been earned if the money had been paid
                                               into such an account.

[GA]                                       ( c ) Regulations under this subsection shall
                                           not come into operation until a period of not
                                           less than one month has elapsed from the date
                                           on which they were made.

[GA]                                       ( d ) Every regulation made under this section
                                           shall be laid before each House of the
                                           Oireachtas as soon as may be after it is made
                                           and, if a resolution annulling the regulation is
                                           passed by either such House within the next
                                           subsequent twenty-one days on which the
                                           House has sat after the regulation is laid
                                           before it, the regulation shall be annulled
                                           accordingly but without prejudice to anything
                                           previously done thereunder.

[GA]                         (10) For the purposes of subsections (1) to (4) references to
                             money for a client include references to money paid to an
                             auctioneer or house agent, being all or part of the purchase-
                             price of property sold by him for a client or of the rent or
                             other return in respect of property let by him for a client or
                             being a payment otherwise intended for a client, where the
                             auctioneer or house agent, in anticipation of the receipt of
                             such money, has out of his own funds already paid the
                             client.
[GA] Priority of claims to   6. —Where an auctioneer or house agent keeps a client
       clients' moneys.      account, neither the State nor any person shall have or
                             obtain any recourse or right against moneys standing to the
                             credit of that account in respect of a claim or right against
                             the auctioneer or house agent until all proper claims of his
                             clients against those moneys have been fully satisfied.
[GA] Vesting in Official     7. —(1) ( a ) Where an auctioneer or house agent is
       Assignee of sums to   adjudicated bankrupt or where, being an arranging debtor,
       credit of certain
       client accounts.
                             he vests his estate in the Official Assignee for realisation
       and distribution amongst his creditors, then,
       notwithstanding anything contained in section 6 or in any
       other enactment, there shall vest in the Official Assignee
       the sum to the credit of every client account kept by that
       auctioneer or house agent.
[GA]                ( b ) Where an auctioneer or house agent files
                    a petition for arrangement but does not vest
                    his estate in the Official Assignee, the
                    creditors who are clients, or a section thereof
                    (being at least three-fifths in number and
                    value of those who, as clients, have proved
                    debts to the amount of £20) may apply to a
                    judge of the High Court for the time being
                    exercising jurisdiction in bankrupt matters for
                    an order vesting in the Official Assignee the
                    sum to the credit of every client account kept
                    by the auctioneer or house agent, and the
                    judge may, if he thinks it proper to do so and
                    the Official Assignee consents, make such an
                    order, which shall have effect accordingly.

[GA]   (2) Upon a vesting under subsection (1) (whether by virtue
       of paragraph (a) thereof or of an order under paragraph
       (b)thereof) in the Official Assignee—
[GA]                ( a ) the rights of creditors against the deposit
                    maintained in the High Court shall vest in
                    him and no order shall thereafter be made
                    under section 11 (3) (b) in relation to the
                    deposit;

[GA]                ( b ) he shall notify the Accountant of the
                    vesting;

[GA]                ( c ) notwithstanding that an order in respect
                    of any such client account may have been
                    under section 11 (4), a banking company shall
                    be entitled to pay over to him the sum to the
                    credit of that account and shall pay over that
                    sum to him upon demand by him;

[GA]                ( d ) he shall proceed to administer the client
                    account or accounts for the benefit of the
                    clients and the law of bankruptcy (including
                    this Act) shall apply to such administration.

[GA]   (3) The administration under subsection (2) of a client
       account by the Official Assignee shall for all purposes be
       deemed to be business assigned to the Office of the Official
                               Assignee in Bankruptcy and transacted therein.
[GA] Provisions relating       8. —(1) Where—
       to client accounts in
       event of bankruptcy.

[GA]                                        ( a ) an auctioneer or house agent is
                                            adjudicated bankrupt, files a petition for
                                            arrangement, executes a deed of arrangement
                                            (within the meaning of section 4 of the Deeds
                                            of Arrangement Act, 1887) or dies insolvent,
                                            or

[GA]                                        ( b ) a company licensed as an auctioneer or
                                            house agent is insolvent and being wound up,

[GA]                           the Official Assignee (in a case where section 7 applies),
                               the liquidator (in the case of an insolvent company) or any
                               interested person (in any other case) may apply to the High
                               Court by motion for an order under subsection (2).
[GA]                                        (2) ( a ) The High Court, on application made
                                            to it under subsection (1), may make an order
                                            directing that—

[GA]                                            (i) the costs, fees and expenses incurred
                                                by or payable to the Official Assignee in
                                                connection with the client account or (as
                                                may be appropriate) such costs and
                                                expenses in connection with the client
                                                account of the liquidator or other
                                                interested person as the court may allow,
                                                and

[GA]                                            (ii) the amount of any deficiency in a
                                                client account,

[GA]                                        shall, to such extent as the money available
                                            allows, be paid or made good by the
                                            Accountant either out of the deposit
                                            maintained in the High Court under the
                                            Principal Act, or, in a case where the deposit
                                            consists of a guarantee bond, from money
                                            made available by the assurance company
                                            concerned on foot of the bond; and, for the
                                            purpose of enabling the Accountant to
                                            comply with such direction, the order or a
                                            further order may direct, in a case where the
                                            deposit consists of securities, the sale by the
                                            Accountant of such securities (or of as much
                    thereof as may be necessary) and, in a case
                    where the deposit consists of a guarantee
                    bond and notice of the application has been
                    served on the assurance company concerned,
                    the payment by the assurance company of the
                    amount of the bond (or of as much thereof as
                    may be necessary) : provided, however, that
                    such order shall have effect subject to the
                    provisions of any order previously made in
                    relation to the deposit under section 11 (3) (b)
                    unless the High Court directs otherwise.

[GA]                ( b ) Where there is a deficiency in more than
                    one client account, the amount available from
                    the deposit towards making good the
                    deficiencies may be paid over under
                    paragraph (a) without apportionment between
                    the client accounts.

[GA]                ( c ) The High Court, when making an order
                    under this subsection directing the sale of
                    securities, may in the same order direct the
                    sale of all such securities maintained as a
                    deposit in the High Court by the auctioneer or
                    house agent and the transfer to the Official
                    Assignee, for the benefit of the ordinary
                    creditors, of any surplus that may remain after
                    the payment of any costs, fees and expenses
                    and the making good of any deficiency in a
                    client account.

[GA]                ( d ) The provisions of section 15 (3) of the
                    Principal Act shall apply to an order under
                    this subsection.

[GA]   (3) Where—
[GA]                      ( a ) (i) an auctioneer or house agent is
                          adjudicated bankrupt, files a petition for
                          arrangement, executes a deed of
                          arrangement (within the meaning of
                          section 4 of the Deeds of Arrangement
                          Act, 1887) or dies insolvent, or

[GA]                      (ii) a company licensed as an auctioneer
                          or house agent is insolvent and being
                          wound up,

[GA]                and
[GA]                                      ( b ) there is, notwithstanding the addition of
                                          the sum paid over under subsection (2), a
                                          deficiency in the client account or accounts,

[GA]                        then, notwithstanding any rule of law to the contrary, the
                            sum to the credit of the said client account or, where the
                            auctioneer or house agent has kept two or more client
                            accounts, the total of the sums to the credit of those
                            accounts, shall (after the addition thereto of the sum paid
                            over under subsection (2)) be divisible proportionately
                            amongst the clients of the auctioneer or house agent
                            according to the respective sum received by the auctioneer
                            or house agent in the course of his business on behalf of his
                            clients and remaining due by him to them.
[GA]                        (4) A person, other than the Official Assignee, who is
                            entitled and proposes to apply to the High Court under
                            subsection (1) may before such application and by motion
                            ex parte apply to the Court for an order prohibiting the
                            payment of any money out of the deposit or, in a case
                            where the deposit consists of a guarantee bond, from
                            money made available by the assurance company
                            concerned on foot of the bond, pending the hearing of the
                            application under subsection (1), and the Court may, if it
                            thinks fit, order accordingly.
[GA]                        (5) For the purposes of this section, in a case where a
                            refund of a deposit is due the amount due shall be deemed
                            to have been received by the auctioneer or house agent in
                            the course of his business on behalf of the person who
                            made the deposit: provided, however that this section shall
                            not so operate as to deprive such a person of any right to
                            require the contract of sale or letting to be duly completed.
[GA] Preservation of lien   9. —Nothing in this Act shall so operate as to deprive an
       and other rights.    auctioneer or house agent of any recourse or right (whether
                            by way of lien, set-off, counter-claim, charge or otherwise)
                            against moneys standing to the credit of a client account.
[GA] Provisions regarding 10. —(1) A banking company shall not, in connection with
     banking companies. any transaction on an account of an auctioneer or house
                          agent kept with them or with another banking company,
                          incur a liability or be under an obligation to make inquiry
                          or be deemed to have knowledge of a right to money paid
                          or credited to the account which they would not incur, be
                          under or be deemed to have in the case of an account kept
                          by a person entitled absolutely to the money paid or
                          credited thereto.
[GA]                        (2) Nothing in subsection (1) shall relieve a banking
                            company from any liability or obligation which they would
                              be under apart from this Act.
[GA]                          (3) Notwithstanding subsection (1), a banking company
                              which keeps an account of an auctioneer or house agent for
                              moneys of clients, shall not, in respect of a liability of the
                              auctioneer or house agent to the banking company, not
                              being a liability in connection with that account, have or
                              obtain any recourse or right (whether by way of lien, set-
                              off, counter-claim, charge or otherwise) against moneys
                              standing to the credit of that account.
[GA]                          (4) Nothing in subsection (3) shall deprive a banking
                              company of a right existing at the commencement of this
                              section in respect of moneys previously deposited with that
                              banking company.
[GA] Proceedings in           11. —(1) Whenever a person (in this section referred to as
       relation to deposits   the plaintiff) has—
       and banking
       accounts.

[GA]                                        ( a ) obtained in any proceedings a judgment,
                                            order or decree, or

[GA]                                        ( b ) instituted proceedings,

[GA]                          against any other person (in this section referred to as the
                              defendant) for (or, in the case of proceedings instituted,
                              involving a claim for) payment of money in discharge of a
                              liability incurred or alleged to have been incurred by the
                              defendant as an auctioneer or house agent in relation to the
                              receipt or payment of money or the safe custody of
                              property, the plaintiff or any client of the defendant may by
                              motion ex parte apply to the High Court for an order under
                              subsection (3).
[GA]                                        (2) ( a ) A person who may make an
                                            application under subsection (1) shall, on
                                            satisfying the registrar or clerk, as the case
                                            may be, of the court in which the judgment,
                                            order or decree mentioned in that subsection
                                            was obtained or the proceedings mentioned in
                                            that subsection were instituted that he
                                            proposes to make the application, be entitled
                                            to obtain a certificate signed by the registrar
                                            or clerk that a judgment, order or decree as
                                            aforesaid has been obtained or that
                                            proceedings as aforesaid have been instituted,
                                            as the case may be, against the defendant.

[GA]                                        ( b ) A certificate under paragraph (a) shall be
                    evidence of the facts stated therein.

[GA]   (3) Where an application is made under subsection (1), the
       following provisions shall have effect, namely:
[GA]                ( a ) in any case, the Court may by order
                    direct that the deposit maintained in the Court
                    under the Principal Act be not released during
                    such period as to the Court may seem proper;

[GA]                ( b ) in a case where the application is made
                    by a plaintiff who has obtained a judgment,
                    order or decree and it appears to the Court,
                    after such enquiry as it deems appropriate,
                    either—

[GA]                    (i) that it is unlikely that further claims
                        will be made against the deposit in
                        respect of sums then owed by the
                        defendant, or

[GA]                    (ii) that, if such claims are made, the
                        deposit is sufficient to meet them in full,

[GA]                the Court may by order direct that the sum
                    specified in the judgment, order or decree (as
                    the case may be), with or without the costs of
                    the application, shall be paid to the plaintiff
                    out of the deposit or, if the deposit consists of
                    a guarantee bond and notice of the
                    proceedings or of the intention to institute the
                    proceedings has been served before the
                    hearing on the assurance company concerned,
                    shall be paid to the Accountant on behalf of
                    the plaintiff

[GA]   (4) Where an order has been made under subsection (3) (a)
       the Court may also make an order directing either—
[GA]                ( a ) that no banking company shall, except
                    on such conditions or in such circumstances
                    as may be specified in the order, make any
                    payment out of any banking account in the
                    name of the defendant, or

[GA]                ( b ) that a specified banking company shall
                    not, except on such conditions or in such
                    circumstances as may be specified in the
                    order, make any payment out of any banking
                    account or out of a specified banking account
                    or type of account kept by such company in
                    the name of the defendant.

[GA]   (5) Where—
[GA]                ( a ) an order has been made under subsection
                    (3) ( a ) on the application of a plaintiff who
                    has obtained judgment, order or decree, or

[GA]                ( b ) an order has been made under subsection
                    (4),

[GA]   the defendant shall, for the purposes of the law of
       bankruptcy, be deemed to have committed an act of
       bankruptcy on the date of the making of the order or, if the
       defendant is a company, shall, for the purposes of the law
       relating to companies, be deemed to be unable to pay its
       debts.
[GA]                (6) ( a ) In addition to or in lieu of an order
                    under subsection (4), the Court,
                    notwithstanding anything contained in the
                    law of bankruptcy or the law relating to
                    companies, may, of its own motion and after
                    giving to the defendant, and to any person to
                    whom it considers it reasonable to give
                    notice, such notice as it considers reasonable,
                    by order adjudicate him bankrupt or, if the
                    defendant is a company, make an order for its
                    winding up and for the appointment of the
                    Official Assignee as liquidator.

[GA]                ( b ) Where the Official Assignee is appointed
                    liquidator under paragraph (a)—

[GA]                     (i) the provisions of sections 228 (a) of
                         the Companies Act, 1963 , shall not
                         apply to him,

[GA]                     (ii) notwithstanding anything contained
                         in section 6 or in any other enactment,
                         there shall vest in him the sum to the
                         credit of every client account kept by the
                         company and the provisions of section 7
                         (2) shall apply as if the vesting were
                         under section 7 (1),

[GA]                     (iii) the exercise of his powers and the
                         performance of his duties as liquidator
                         (including the administration of a client
                                          account) shall for all purposes be deemed
                                          to be business assigned to the Office of
                                          the Official Assignee in Bankruptcy and
                                          transacted therein.

[GA]                    (7) Where a defendant is adjudicated bankrupt under this
                        section, the law of bankruptcy (including this Act) shall
                        apply in the same way as if the defendant had been
                        adjudicated bankrupt on a petition of bankruptcy under that
                        law and as if for any reference in that law to the
                        presentation or filing of a petition of bankruptcy there were
                        substituted a reference to the making of the order of
                        adjudication under this section.
[GA]                    (8) Where, in a case where the defendant is a company, a
                        winding up order is made under this section, the law
                        relating to companies (including this Act) shall apply in the
                        same way as if the order had been made on a winding up
                        petition under that law and as if for any reference in that
                        law to the presentation of the winding up petition there
                        were substituted a reference to the making of the winding
                        up order under this section.
[GA]                    (9) An order under subsection (3) ( a ) or under subsection
                        (4) may be revoked or varied by the High Court.
[GA]                    (10) The whole or any part of proceedings under this
                        section may be heard in chambers.
[GA]                    (11) Rules of the Superior Courts may provide for
                        adaptation of the law of bankruptcy, the law relating to
                        companies and any procedure to such extent as may be
                        necessary to implement this section.
[GA]                    (12) The reference in section 15 (3) of the Principal Act to
                        an order under that section shall be construed as a reference
                        to an order under subsection (3) (b) of this section.
[GA]                    (13) Sections 15 (1) and 15 (2) of the Principal Act are
                        hereby repealed.
[GA] Amendment of       12. —Section 12 of the Principal Act, which relates to the
       section 12 of    grant of certificates of qualification, is hereby amended—
       Principal Act.

[GA]                             (i) by the insertion in subsection (1) after "subject
                                 to" of "compliance by the applicant with the
                                 provisions of subsection (3) of this section and
                                 to", and

[GA]                             (ii) by the insertion after subsection (2) of the
                                 following subsections:
[GA]   "(3) ( a ) An applicant for a certificate of
       qualification who has carried on the business
       of auctioneer or the business of house agent at
       any time in the period of twelve months
       ending six months before the date of the
       application (in this subsection referred to as
       the current application) shall furnish to the
       District Justice at the hearing of the current
       application a certificate signed by an
       accountant stating that he has examined the
       accounts of the applicant for such period as is
       specified in the certificate (being a period
       beginning, in the case of an applicant who has
       not previously furnished such a certificate, on
       the day of commencement of business or such
       other day as the District Justice may for
       special reasons allow, and, in any other case,
       on a day not later than the day immediately
       following the end of the period to which the
       last such certificate furnished by the
       applicant, or a certificate of the kind
       mentioned in subsection (4) (b) of this
       section, relates, and, in all cases, ending on a
       day not earlier than six months before the
       current application) and that the applicant has
       complied with the provisions of the
       Auctioneers and House Agents Act, 1967 ,
       relating to the keeping of accounts and to the
       opening and keeping of client accounts.

[GA]   ( b ) For the purposes of this subsection,
       business carried on before the day of the
       coming into operation of the said provisions
       shall be disregarded and where business has
       been so carried on that day shall be regarded
       as the day of commencement of business.

[GA]   ( c ) Where the applicant has not carried on
       business throughout the period specified in
       paragraph (a) as the period to which the
       certificate should relate, the provisions of that
       paragraph shall be sufficiently complied with
       if the certificate relates to part of the period
       (being the part during which business was
       carried on) and it is proved to the satisfaction
       of the District Justice that business was not
       carried on except during that part of the
       period.
[GA]   ( d ) In this subsection references to the
       business of auctioneer and to the business of
       house agent shall be construed as referring
       only to business to carry on which the
       applicant is required to be licensed under this
       Act.

[GA]   (4) ( a ) The District Justice may, at his
       discretion, grant an application for a
       certificate of qualification notwithstanding
       that, because of failure to comply with the
       provisions of the Auctioneers and House
       Agents Act, 1967 , relating to the keeping of
       accounts and to the opening and keeping of
       client accounts, the applicant is unable to
       furnish the certificate required by subsection
       (3) of this section, provided that the applicant
       proves to the satisfaction of the District
       Justice—

[GA]         (i) that he is, at the time of the
             application, complying with the said
             provisions and has taken all necessary
             steps to comply with them for the
             future;

[GA]         (ii) that no client has suffered or is
             liable to suffer loss in respect of any
             transactions during the period when the
             said provisions were not complied with;
             and

[GA]         (iii) that, in relation to the business of
             auctioneer or the business of house
             agent (as the case may be) and any
             other business in which he may be
             engaged, he is solvent.

[GA]   ( b ) Proof of the matters mentioned in
       subparagraphs (i) to (iii) of paragraph (a)
       shall in all cases include a certificate signed
       by an accountant in relation to the said
       matters and the District Justice may require
       additional evidence (including oral evidence
       by the accountant) to be adduced.

[GA]   ( c ) A certificate for the purposes of
       paragraph (b)shall not be deemed to be
       insufficient by reason only of the fact that—

[GA]         (i) an interval has elapsed between the
             issue of the certificate and the time of
             the application: provided that the
             interval does not exceed one month, or

[GA]         (ii) the certificate, in so far as it relates
             to paragraph (a) (ii), indicates only that
             the accountant has no reason to believe
             that a client has suffered or is liable to
             suffer loss,

[GA]   or by reason of both such facts

[GA]   (5) ( a ) The Minister may by order make
       such modification as he may think necessary
       in relation to the period to which the
       certificate signed by an accountant and
       mentioned in subsection (3) of this section
       shall relate, but any such modification shall
       not relieve an applicant from the requirement
       (imposed in certain cases by the said
       subsection (3)) to furnish a certificate relating
       to a period beginning on a day not later than
       the day immediately following the end of the
       period to which the last such certificate
       furnished by the applicant, or a certificate of
       the kind mentioned in subsection (4) (b) of
       this section, relates.

[GA]   ( b ) The Minister may by order revoke or
       amend an order under this subsection.

[GA]   (6) ( a ) The Minister may make regulations
       prescribing—

[GA]         (i) the nature and extent of the
             examination to be made by an
             accountant of the books and accounts of
             an auctioneer or house agent and of any
             other relevant documents, with a view
             to the giving of a certificate for the
             purposes of subsection (3) or a
             certificate for the purposes of
             subsection (4) ( b ), and

[GA]         (ii) the form of such certificate,
[GA]                                    and different regulations may be made in
                                        respect of the two types of certificate
                                        mentioned in subparagraph (i).

[GA]                                    ( b ) Notwithstanding that an auctioneer or
                                        house agent has, during the period to be
                                        covered by a certificate required for the
                                        purposes of subsection (3), complied with the
                                        relevant provisions of the Auctioneers and
                                        House Agents Act, 1967 , an accountant shall
                                        not issue a certificate for the purposes of that
                                        subsection if at the time of his examination
                                        matters come or have come to his notice from
                                        which it appears to him that the auctioneer or
                                        house agent is not solvent.

[GA]                           (7) Any person who acts as an accountant for the
                               purposes of this section when not qualified in manner
                               the indicated in paragraph (a) or paragraph (b) (as the
                               case may be) of the following subsection shall be
                               guilty of an offence and on summary conviction
                               thereof shall be liable to a fine not exceeding £100.
[GA]                           (8) In this section 'accountant' means—
[GA]                                    ( a ) where the auctioneer or house agent is a
                                        company, a person who is qualified for
                                        appointment as auditor of that company,

[GA]                                    ( b ) in any other case, a person (not being a
                                        body corporate or the applicant or a partner or
                                        employee of the applicant) who fulfils
                                        either—

[GA]                                           (i) the condition mentioned in
                                               paragraph (a), or

[GA]                                           (ii) the condition mentioned in
                                               paragraph (b),

[GA]                                    of section 162 (1) of the Companies Act,
                                        1963 , for appointment as auditor of a
                                        company and is not disqualified under section
                                        162 (2) of that Act for being so appointed."

[GA] Application of this   13. —This Act, other than sections 1 to 4, section 11, this
       Act.                section and section 14, shall not apply or have effect in
                           relation to the auctioning in a public market of vegetables,
                           potatoes, fruit, flowers, poultry, eggs or other primary
                           products (not including horses, cattle, sheep or pigs) of
                           agriculture or horticulture.
[GA] Short title, collective 14. —(1) This Act may be cited as the Auctioneers and
     citation, construction House Agents Act, 1967 .
       and commencement.

[GA]                       (2) The Principal Act and this Act may be cited together as
                           the Auctioneers and House Agents Acts, 1947 and 1967,
                           and shall be construed together as one.
[GA]                       (3) Sections 4 to 12 shall come into operation on the
                           expiration of the period of two months beginning on the
                           day of the passing of this Act.

								
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