S.L. 342.1 Art. 2Interpretation.

In these regulations, unless the context otherwise requires -

"the Act" means the Auctioneers Act;

"antique" and "auctioneer" have the same meaning as is assigned to them in article 2 of the Act, and "auctioneering" means the business of auction run by an auctioneer; "Board" means a board of examiners, who cannot be operators in the auctioneering sector, set up from time to time by the Minister in order to assess applicants for a licence to act as auctioneer; "buyer" means the buyer of a lot at an auction; "Librarian" means the librarian mentioned in article 3 of the National Archives Act, who is Curator of the National Archives; "lot" means one article, or more than one article grouped together, intended for sale at an auction; "Minister" means the Minister responsible for trade and includes, to the extent of the authority given, any person authorised by the Minister in that behalf for any purpose of these regulations;

"reserved price" means the price below which a seller is unwilling to sell a lot and has notified the auctioneer to that effect;

"seller" means the owner of a lot put up for sale at an auction.