Ticket resellers who breach a new law restricting resale to no more than 10 per cent above face-value could be hit with fines of up to A$22,000 (US$16,766).
Under the legislation, introduced by the New South Wales (NSW) government on 1 June, sellers using secondary sites will also have to list the original ticket price and seat and row number. Companies in contravention of the law, part of an amendment to the Fair Trading Act 1987, could be fined up to A$110,000 (US$83,830).
“These laws create a level playing field so genuine fans can buy tickets to concerts and sporting events without being slapped with hugely inflated resale prices,” says Minister for Better Regulation Matt Kean.
The law only applies to events taking place in NSW, although the Government of Victoria brought in a similar 10 per cent cap last year (see Audience issue 214).