Auctioneers and House Agents Act, 1947

Release of deposit.

16.—(1) If the depositor desires to apply for the release of a deposit he shall cause to be inserted, at least fifty-six days before making the intended application, in a newspaper circulating in the district court area in which the depositor has or last had his principal place of business as auctioneer or house agent (as the case may be), notice of his intention to make the application.

(2) Where the depositor, having complied with subsection (1) of this section, applies for the release of a deposit, the following provisions shall have effect:—

(a) in case the depositor does not hold, and has not, at any time during the period of fifty-six days preceding the date of the application, held a licence the deposit shall, subject to section 15 of this Act, be released;

(b) in any other case, the deposit shall not be released.

(3) This section applies to an application by the liquidator, personal representative, assignee or other successor in title of a depositor in the same manner as it applies to an application by a depositor.