Hong Kong Regulations

MARINE FISH (MARKETING) BY-LAWS - BYLAW 19

Reserve prices in auctions

(1) If, before the bidding has commenced for any marine fish at an auction in
a market, the seller or his agent informs the auctioneer and all other persons
present at that time, he may place a reserve price on any marine fish to be
sold.

(2) When a reserve price has been placed in accordance with paragraph (1) and
in the bidding the reserve price is not reached, the auctioneer shall declare
the fish not to be sold.