Australian Capital Territory Auction Rules
Openn emphasises that this page sets out the standard conditions of auction for the sale of residential land in Australian Capital Territory which apply and are accurate as at 31 March 2022. Openn accepts no responsibility for any variation to the standard conditions of auction after that date and the User should check the Civil Law (Sale of Residential Property) Act 2003 (ACT), the Civil Law (Sale of Residential Property) Regulation 2004 (ACT) and the Agents Act
2003 (ACT), or any other relevant legislation pertaining to the sale of property for any change which may have occurred.
Standard Auction Conditions
A public auction of residential property must be conducted in accordance with the standard auction conditions prescribed under the regulations.
CIVIL LAW (SALE OF RESIDENTIAL PROPERTY) ACT 2003 - SECT 32 Auction conditions to be available before auction begins
1. The auctioneer of residential property at a public auction commits an offence if—
(a) the auctioneer begins the auction; and (b) a copy of the conditions of the auction have not been displayed at the place of the auction for at least 30 minutes before the auction begins.
2. An offence against this section is a strict liability offence.
3. In this section: "conditions", of an auction, means—
(a) the standard auction conditions prescribed under section 31A; and (b) any other conditions (not inconsistent with the standard auction conditions) decided by the seller for the auction.