(1) The department shall determine the location for auctioning the seized property according to sub-section (3) of section 105 of the Act, considering the appropriate place to sell it according to the nature of the property. Subject to the following auction sale:-
(a) as far as possible, publish fifteen days' notice of the auction sale in at least one local newspaper of the place mentioned in sub-rule (1), but this provision shall not apply in the case of property which is subject to decay.
(b) To determine the market value of the property to be auctioned in the office of the representative of the local administration nearest to the place mentioned in sub-rule (1) and the representative of any other government office nearby.
(3) When the auction is held, it shall be held in the office of the representative of the local administration nearest to the place mentioned in sub-rule (1) and it shall not be sold unless the person who participates in the auction offers to buy it at the market price determined in accordance with clause (b) of sub-rule (2). br> (4) During the auction according to sub-rule (3), the property whose value is lower than the market value fixed according to clause (b) of sub-rule (2) shall be published for seven days in accordance with clause (a) of sub-rule (2) and the auction shall be increased for the second time.
(5) Even if the auction is increased according to sub-rule (4), if the price is less than the market value determined according to clause (b) of sub-rule (2), then according to clause (a) of sub-rule (2) three days notice will be published and the auction will be increased for the third time for any amount Even if the price comes, the auction can be sold.
(6) The department shall give customs clearance to the person who sells the property in the auction sale.