Regulation 12 “Resale”I1
United Kingdom
The sale of a work may be regarded as a resale notwithstanding that the first transfer of ownership was not made for a money (or any) consideration.
The sale of a work may regarded as a resale only if the conditions mentioned in paragraph (3) are satisfied in respect of that sale.
The conditions are that—
the buyer or the seller, or (where the sale takes place through an agent) the agent of the buyer or the seller, is acting in the course of a business of dealing in works of art; and
the sale price is not less than F1£1,000.
The sale of a work is not to be regarded as a resale if—
the seller previously acquired the work directly from the author less than three years before the sale; and
the sale price does not exceed F2£10,000.
Annotations
Textual amendments
- F1
Sum in reg. 12(3)(b) substituted (1.4.2024) by The Design Right, Artist’s Resale Right and Copyright (Amendment) Regulations 2023 (S.I. 2023/1285), regs. 1(3), 3(3) (with reg. 4)
- F2
Sum in reg. 12(4)(b) substituted (1.4.2024) by The Design Right, Artist’s Resale Right and Copyright (Amendment) Regulations 2023 (S.I. 2023/1285), regs. 1(3), 3(4) (with reg. 4)
Commencement
- I1
Reg. 12 in force at 14.2.2006 in accordance with reg. 1(1)