(1) No person shall be entitled to bid at an auction in a market or purchase marine fish at a market unless he is-
(a) a registered buyer;
(b) in the case of a corporation which is a registered buyer, an authorized representative of the corporation;
(c) an employee of the Organization, acting on the instructions of the manager and in accordance with by-law 16.
(2) In the absence of a registered buyer, a nominee buyer of such registered buyer shall be entitled to bid at an auction in a market or purchase marine fish at a market, as agent for such registered buyer.