Hire-Purchase Act · s 30

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s 30Minimum deposits

(1)

Where the minimum amount of the deposit in respect of any goods or class of goods is not prescribed, if an owner enters into a hire-purchase agreement without having first obtained from the proposed hirer thereunder a deposit in cash or in goods, or partly in cash and partly in goods, to a value as prescribed by the Authority by notification published in the Gazette, the agreement shall be void.

Hire-Purchase

(2)

In this section and in section 31, “hire-purchase agreement” does not include any agreement or arrangement that is entered into solely for the purpose of giving effect to an assignment or transfer of the rights and liabilities under an existing hire-purchase agreement from the hirer to another person.

Certain payments etc. not to be treated as deposits for purposes of this