Hire Purchase Agreements Notice 1972

  • revoked
  • Hire Purchase Agreements Notice 1972: revoked, on 12 May 2011, by clause 3 of the Regulatory Reform (Revocations) Order 2011 (SR 2011/99).

Reprint
as at 12 May 2011

Hire Purchase Agreements Notice 1972

(SR 1972/160)

  • Hire Purchase Agreements Notice 1972: revoked, on 12 May 2011, by clause 3 of the Regulatory Reform (Revocations) Order 2011 (SR 2011/99).


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

This notice is administered in the Department of Justice.


Pursuant to section 6(2) of the Hire Purchase Act 1971, the Minister of Justice hereby gives the following notice.

Notice

1 Title and commencement
  • (1) This notice may be cited as the Hire Purchase Agreements Notice 1972.

    (2) This notice shall come into force on 1 August 1972.

2 Estimate of cost of insurance
  • Where the vendor is to pay or advance to the purchaser the whole or part of the cost of any insurance which is to be taken out at the option of the purchaser or is required by the vendor, and that cost is not known to or ascertainable by the vendor at the time when the hire purchase agreement is executed by or on behalf of the purchaser, a fair estimate of the cost may be inserted in the financial details required by paragraph (c) of subsection (1) of section 6 of the Act instead of the actual cost, if, in each such case,—

    • (a) the item is shown to be an estimate, eg, Optional insurance (estimated cost) $.......; and

    • (b) where the actual cost differs from the estimate, that cost is notified by the vendor to the purchaser in writing, together with an amended statement of the details required by paragraph (b) of subclause (1) of section 6 of the Act, as soon as practicable after the execution of the agreement by or on behalf of the purchaser.

Roy Jack,
Minister of Justice.


Explanatory Note

This note is not part of the notice, but is intended to indicate its general effect.

Where insurance is taken out by a purchaser under a hire purchase agreement and the whole or part of the cost of that insurance is to be paid to or advanced by the vendor, details of the cost of that insurance are required to be shown in the agreement when it is signed by the purchaser. It is now provided that where the cost of that insurance is not known to or ascertainable by the vendor at that time a fair estimate of that cost may be shown in the agreement instead of the actual cost if certain conditions are complied with.


Issued under the authority of the Regulations Act 1936.

Date of notification in Gazette: 27 July 1972.


Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)


Notes
1 General
  • This is an eprint of the Hire Purchase Agreements Notice 1972. The eprint incorporates all the amendments to the notice as at 12 May 2011. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions that cannot be compiled in the eprint are also included, after the principal enactment, in chronological order.

2 About this eprint
3 List of amendments incorporated in this eprint (most recent first)
  • Regulatory Reform (Revocations) Order 2011 (SR 2011/99): clause 3