From whom may stock be acquired

Stock Theft Act, section 7:

Acquisition of stock or produce from persons whose places of residence are unknown. Any person who in any manner (otherwise than at a public sale) acquires or receives into his possession, or any auctioneer, agent or market master who receives into his possession for the purpose of sale, from any person who has no known place of residence, any stock or produce without obtaining at the time of delivery of such stock or produce to him a certificate, issued not more than thirty days before the delivery giving a description of the stock or produce and certifying that to the best of his or their knowledge and belief such person is entitled to dispose of or deal with such stock or produce, shall be guilty of an offence.

  • This section of the Stock Theft Act makes it clear that if stock is traded in any way, the buyer must ensure that the residential address of the seller is known.
  • The stipulation is not applicable if stock is acquired at a public auction. The reason for this stipulation is that the auctioneer or agent should already have ensured that proof of the person’s residential address has been furnished.
  • The section explains all the requirements this proof of address needs to comply with, also in the case of persons who live in communal areas.