in Judicial Sales by Auction Regulations, 2009

VER|JONI ELETTRONIKA

L.N. 4 of 2009

CODE OF ORGANIZATION AND CIVIL PROCEDURE

(CAP. 12)

Fees of Licensed Auctioneers or Brokers

in Judicial Sales by Auction Regulations, 2009

IN EXERCISE of the powers conferred by article 319(4) of the

Code of Organization and Civil Procedure (Cap. 12), the Minister

responsible for Justice has made the following regulations:-

The title of these regulations is the Fees of Licensed

Auctioneers or Brokers in Judicial Sales by Auction Regulations,

2009.

Notwithstanding the provisions of Tarrif D of the Code of

Organization and Civil Procedure, a licenced auctioneer or broker

carrying out a judicial sale by auction shall be paid the following fees

(a)

in the case of an auction

of immovable property, of rights

annexed to such immovable

property, of ships and of

commercial going concerns ............ zero point two per cent of

the value of the item sold,

solely from the purchaser;

and

(b) in the case of an auction

of movable items ............................ zero point one per cent of

the value of the item sold,

solely from the purchaser

Provided that the parties may, in writing, agree that the licensed

auctioneer or broker, as the case may be, be paid different fees, not

being less than those provided for in paragraphs (a) and (b), and in

such proportions as they may so agree in writing.

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