Hire-Purchase (Amendment) Act, 1960

Amendment of definition of hire-purchase price.

20.—(1) For the purposes of the Principal Act, any sum payable by the hirer under a hire-purchase agreement by way of a deposit or other initial payment, or credited or to be credited to him under such an agreement on account of any such deposit or payment, whether that sum is to be or has been paid to the owner or to any other person or is to be or has been discharged by a payment of money or by the transfer or delivery of goods or by any other means, shall form part of the hire-purchase price.

(2) This section shall apply for the purposes of the Principal Act in its application to agreements made before the commencement of this Act, except in relation to any note or memorandum of such an agreement made for the purposes of section 3 of the Principal Act.