s 8 Rules and penalties
The Minister may make rules for carrying out the provisions of this Act and any person who contravenes such provisions shall, on conviction, be liable to a fine of one hundred ringgit and shall, in addition, be liable to the cancellation of his licence. First Schedule [Subsection 2(1) and section 6] FORM OF LICENCE …………………………….. (name) of ………………………………… (address) is hereby authorized to act as an auctioneer for the period of ……………………….. (period of licence). Fee paid RM ……………… Date ……………………….. ………………………………………….. Signature of Resident or District Officer Second Schedule [Subsection 2(1) and section 6] FEES FOR AUCTIONEER’S LICENCES (RM) (a) Licence to act as an auctioneer (b) Occasional licence for one day (c) Occasional licence for each succeeding day Third Schedule [Section 5] COMMISSION AND FEES 1. (a) Movable property— Per lot: 10% on the first RM1,000. 2% on the remainder of the sale price. (b) Immovable property— Per lot: 2% on the first RM100,000. 1½% on the next RM100,000. 1% on the remainder of the sale price. 2. Actual costs incurred on necessary travelling, accommodation and subsistence away from the base, and on notice displays and equipment, printing, advertisements, hire of auction premises, postage, handling, and service of notices, and other reasonable costs related to the auction, shall be payable. 3. The above commission and fees shall be subject to a minimum charge of RM200 for each auction meeting held or postponed within twenty-four hours of the time set for auction. (Revised—2026)