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AUCTION INDUSTRY: PARLIAMENTARY COMMITTEE CALLS FOR SUBMISSIONS ON POSSIBLE LEGISLATIVE GAPS
- 21 September 2026
- Parliament
- SA Legal Academy
The National Assembly’s Trade, Industry & Competition Committee has issued a media statement calling for written submissions by 30 September 2026 on perceived auction industry shortcomings. This is in anticipation of ‘engagements’ with industry stakeholders and the relevant regulatory bodies scheduled for 6 October 2026.
The move appears to have been prompted by concerns about:
- ‘the emergence of online auctions for the disposal of (South Africa’s) strategic and productive assets’
- the ‘disproportionate acquisition of … (these) assets by foreign companies’ (facilitated by the exchange rate), and
- the negative impact of this trend on:
- local businesses, and
- those assets’ ‘domestic ownership and management’.
The statement also refers to ‘unscrupulous practices’ and the slow pace of transformation.
Against that backdrop, the committee seeks to:
- ‘establish whether there are legislative and/or regulatory gaps that exacerbate these challenges’, and
- ‘propose measures and/or a consolidated legislative approach’ to:
- ‘curb the abuse of auctions, particularly online auctions, to undermine South Africa’s economic development and transformation’
- ‘strengthen regulatory oversight while maintaining a fair, transparent and competitive auction system’, and to
- ‘ensure that the industry is effectively transformed and contributes to the national transformation agenda’.
Backdated to 18 September 2026, the statement appears to have been published well into the public commentary period – Parliament’s website having been offline that day.
- committee media statement
Published by SA Legal Academy Policy Watch
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