B8
[Subsidiary]
Sales to be by way of auction.
Reserve prices in auctions.
Cancellation of sales.
Commission for sales.
Method of payment.
Appeal to the Organization.
CAP. 291]
Marine Fish (Marketing) By-laws.
[1964 Ed.
(b) a corporation that is a registered buyer may permit or suffer a badge of identity issued to it to be carried and used in a market by its authorized representatives.
(3) A badge of identity issued to a registered buyer shall not be carried or used in a market by any person other than a registered buyer, or the nominee buyer of such registered buyer, or the authorized representative of a corporation that is a registered buyer.
PART V.
METHOD OF SALES AND PAYMENT.
18. All sales of marine fish at a market shall be by way of auction, except where an alternative method of sale is authorized by the manager with the approval of the Organization.
19. (1) If, before the bidding has commenced for any marine fish at an auction in a market, the seller or his agent informs the auctioneer and all other persons present at that time, he may place a reserve price on any marine fish to be sold.
(2) When a reserve price has been placed in accordance with paragraph (1) and in the bidding the reserve price is not reached, the auctioneer shall declare the fish not to be sold.
20. The manager may, with the approval of the Organization, cancel any sale of marine fish made at a market.
21. (1) There shall be payable to the Organization, for the services provided in respect of sales at a market, a commission at the rate of six per cent of the purchase price of any marine fish.
(2) The commission may be deducted from the purchase price by the manager before payment is made to the seller.
22. (1) All payments for the purchase of marine fish at a market shall be made to the manager, who shall be responsible for payment to the seller.
(2) The manager may allow a registered buyer or a nominee buyer to make purchases on credit, subject to such terms and conditions as shall have been approved by the Organization.
(3) The manager may accept cash deposits from any registered buyer or nominee buyer for future purchases at a market.
PART VI.
APPEAL TO THE ORGANIZATION.
23. (1) If any person is dissatisfied with any decision of the manager, acting in the exercise of his discretion under any of the following provisions-