Prices (Amendment) Act, 1972

Application of Acts to interest and other charges under hire-purchase and credit-sale agreements.

4.—(1) The Acts shall apply in relation to interest charged and any other charges made under hire-purchase agreements or credit-sale agreements in connection with the letting or sale of goods under such agreements and any letting or sale under a hire-purchase agreement or a credit-sale agreement shall be deemed, for the purposes of those Acts, to be a service and the making of a hire-purchase agreement or a credit-sale agreement by an owner of goods and another person shall be deemed, for those purposes, to be a rendering of a service by the owner to the other person.

(2) In this section “hire-purchase agreement” and “credit-sale agreement” have the same meanings as in the Hire-Purchase Acts, 1946 and 1960.