Page 133 - 朵云轩2024春季艺术品拍卖会云志——历代名人法书墨迹

Auction Law of the People’s Republic of China

her business and operational activities, the written auction record and other rel- mand compensation from the auctioneer;
evant data. Should the responsibility rest with the trustee, the auctioneer has the right to de-
The duration prescribed in the above paragraph for keeping account books, the mand compensation from the trustee.
written auction record and other relevant data shall begin to be computed from the Should an auctioneer and a trustee state before an auction that they cannot guar-
date when the trust auction contract is terminated and shall not be fewer than five antee the genuineness or fakery or the quality of an auction target, they shall not
years. bear the liability for guaranteeing the drawbacks.
Article 55 Should an auction target need to handle, according to law, the proce- If no statement is made on the fact that an auction target has drawbacks, the pro-
dures of change in the certificate and the transfer of property rights, the trustee and cedural duration for demanding compensation shall be one year and shall begin to
buyer shall handle necessary procedures with the relevant administrative depart- be computed from the date when the party concerned knows or should know that
ment, on the strength of the auction completion certificate and relevant materials his or her right is damaged.
produced by the auctioneer. The procedural duration for demanding compensation for personal and property
Section Four Commission damages caused by the drawbacks of an auction target is subject to the relevant
Article 56 A trustee and a buyer may jointly set the commission ratio together with stipulations of the “ Product Quality Law of the People’s Republic of China” and
an auctioneer. other laws.
If the trustee, the buyer and the auctioneer have not set the commission ratio, Article 62 Should an auctioneer and other staff violate the stipulation of Article 22
while the auction is completed, the auctioneer may collect commissions not in of this Law by participating in bidding or trusting others to participating in bidding
excess of five percent of the auction completion price from the trustee and buyer, for them, the administrative department for industry and commerce shall give the
respectively. auctioneer a warning and may impose on him or her a fine that ranges from 100
The ratio of commissions to be collected shall be set in accordance with the princi- percent to 500 percent or his or her auction commissions; where cases are seri-
ple of making an inverse ratio to the auction completion price. ous, his or her business license shall be revoked.
In the absence of the completion of an auction, an auctioneer may collect charges Article 63 Should an auctioneer violate the stipulation of Article 23 of this Law by
as agreed upon from the trustee; auctioning his or her articles and property rights in the auction activity organized by
And in the absence of any agreement, the auctioneer may collect from the trustee himself or herself, the administrative department for industry and commerce shall
rational charges as auction expenses. confiscate his or her earnings from the auction.
Article 57 If the auction of articles as stipulated in Article 9 of this Law is com- Article 64 Should a trustee violate the stipulation of Article 30 of this Law by par-
pleted, the auctioneer may collect from the buyer commissions not exceeding five ticipating in the bidding or trusting others to participating in the bidding for him or
percent of the auction completion price. her, the administrative department for industry and commerce may impose on the
The ratio of commissions to be collected shall be set in accordance with the princi- trustee a fine that is up to 30 percent of his or her auction completion price.
ple of making an inverse ratio to the auction completion price. Article 65 By violating the stipulation of Article 37 of this Law, if bidders viciously
In the absence of the completion of an auction, the stipulation of Section 3 of Arti- collaborate with other bidders or if bidders do so with auctioneers, thus causing
cle 56 of this Law shall apply. losses to others, the auction shall become null and void and they shall bear the
liability of compensation according to law. The administrative department for indus-
Chapter V Legal Liabilities try and commerce shall impose on the bidders participating in vicious collaboration
Article 58 Should a trustee violate the stipulation of Article 6 of this law by trusting a fine that is 10 percent to 30 percent of the highest bidding price; and impose on
the auction of articles or property rights of which he or she does not have the own- the auctioneers participating in vicious collaboration a fine that 10 percent to 50
ership or of which he or she may not dispose according to law, he or she shall bear percent of the highest bidding price.
liabilities arising thereafter according to law. Article 66 By accepting commissions in violation of the stipulation of Section Four
Should an auctioneer clearly know that a trustee has no ownership of the articles of Chapter Four of this Law concerning the ratio of commissions, an auctioneer
or property rights for auction or that the trustee may not dispose such articles or shall return that part in excess of the reasonable amount to the trustee and the
property rights according to law, he or she shall bear implicative liabilities. buyer.
Article 59 Should a state department violate the stipulation of Article 9 of this The price control department may impose on the auctioneer a fine that is 100 per-
Law by disposing illicitly of articles that should be auctioned by an auctioneer cent to 500 percent of the commissions.
designated by the people’s government of a province, an autonomous region or a
municipality directly under the central government of by the people’s government Chapter Six Supplementary Articles
of a city with districts where property lies, relevant presonnel in charge who are Article 67 This Law is applicable to foreigners, foreign enterprises and foreign
held directly responsible and other personnel who are also held directly responsi- organizations trusting auctions or participating in bidding within the territory of the
ble shall be meted out administrative punishment according to law, and those who People’s Republic of China.
have caused losses to the state shall also bear the liability of compensation. Article 68 Should auction enterprises established before the implementation of
Article 60 Whoever violates the stipulation of Article 11 of this Law by establish- this Law do not meet the requirements as prescribed in this Law, shall meet the
ing an auction enterprise without approval or registration shall have his or her requirements as stipulated in this Law within the prescribed time limit;
enterprise banned and his or her illegal incomes confiscated by the administrative those still failing to meet the prescribed requirements after the time limit shall have
department for industry and commerce, and may be given a fine that ranges from their registrations revoked and their business licenses taken back by the adminis-
100 percent to 500 percent of his or her illegal earnings. trative department for industry and commerce. Specif ic implementation measures
Article 61 Should an auctioneer and a trustee violate the stipulation of the second shall be formulated by the State Council separately.
paragraph of Article 18 and Article 27 of this Law by failing to state the drawbacks Article 69 This Law shall come into force from January 1, 1997.
of an auction target, thus causing a loss to a buyer, the buyer has the right to de-