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Showing posts with label current issues. Show all posts
Showing posts with label current issues. Show all posts

AMENDMENTS TO THE HIRE-PURCHASE ACT 1967

Most Recent write up:
(A) 1st day of Implementation Hire Purchase Act 1967 (amendments 2010)

(B) Implementation of HP Act amendments

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There are 26 amendments to the 43 years old Hire Purchase Act 1967 tabled in Parliament for second and third reading but the biggest concern to both the public as well as car dealers are clause 7,8,9 and 10 of the bill tabled.

Let us first see and understand those amendments. The followings are excerpts and extractions from the bill tabled in Parliament.

Clause 7 of the Bill seeks to amend Section 16 of the Hire-Purchase Act 1967 to impose new conditions on the owner in relation to repossession under this Act. Section 16 of the principal Act is amended by: 


(a) by substituting for subsection (1) the following subsection:

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