Credit-sale Agreements Act 1957 (NSW)

CREDIT-SALE AGREEMENTS ACT.

Act No. 29, 1957.

An Act to control and regulate certain agree­ ments relating to the sale of goods on credit; and for purposes connected therewith. [Assented to, 4th May, 1957.]

lative Council and Legislative Assembly of New South	BE it enacted by the Queen's Most Excellent Majesty, b y and with the advice and consent of t he Legis-
Wales in Par l iament assembled, and b y the au thor i ty of the same, as follows :—

(1) This Act may be cited as t h e "Cred i t - s a l e Agreements Act, 1957" .

1.

(2) This Act shall commence upon a d a y to be appointed by the Governor and notified by proc lamat ion published in the Gazette.

(1) In this Act, unless the context or subject m a t t e r otherwise indicates or requires—-

2.

" B a n k e r " means—

(a) the Rura l Bank of New South W a l e s ;

'Credi t -sa le
(b)	any body corpora te au thor ised to c a r r y on banking business under the Com­ monweal th Bank Act 1945 (as amended by subsequent Acts ) of t he P a r l i a m e n t
of the Commonweal th of A u s t r a l i a ; o r
(c)	any body corporate for the time being specified in the F i r s t Schedule to the Banking Act 1945 (as amended by sub­ sequent Acts ) of the P a r l i a m e n t of the
Commonwealth of Aus t ra l ia .

"Cred i t - sa l e a g r e e m e n t " means an agreement

for the sale of goods unde r which—

(a)	the purchase-price or any part thereof is payable by ins ta lments or payments which a re to be made over a per iod exceeding one y e a r and a re to be made nine t imes or more than, nine t imes in any per iod of twelve months tha t forms p a r t of the per iod firstmentioned
in th i s p a r a g r a p h ; or
(b)	the purchase-price or any part thereof is payable by ins ta lments or pay­ ments which a r e to be made only over a per iod of one yea r or less t h a n one yea r bu t more t h a n nine months and are to be m a d e nine t imes or more t h a n nine
t imes dur ing t h a t period,

but does no t include a n y such agreement—

(i)   under which the buyer is a person who is engaged in t he t r ade or business of selling goods of the same n a t u r e or descr ipt ion as the goods re fer red to in

the ag reemen t ;

(ii)   that is a hire-purchase agreement as defined in section two of the Hi re - purchase Agreement s Act, 1941, as amended by subsequent A c t s ; or

(iii)	unde r which the goods comprised
the order of t he buyer unt i l the whole there in a re no t to be delivered to or to of the purchase-pr ice is paid.

" G o o d s " includes all chat te ls pe r sona l o ther than

money or th ings in action.

" L o a n " includes advance, discount, money pa id for or on account of or on behalf of or a t the request of any person, and includes every contract (whatever i ts t e rms or form m a y be) which is in substance or effect a loan of money, and " l e n d " and " l e n d i n g " have corresponding in te rp re ta ­ tions.

' P r e s c r i b e d "

" P r e s c r i b e d " means prescr ibed by this Act or by

any regula t ion made thereunder .

" P u r c h a s e - p r i c e " means the to ta l amount of the

moneys pa id or payable and the value of any other considerat ion provided or to be p rov ided by the buyer under a credit-sale agreement .

(2) This Act, except where otherwise express ly provided, applies only to and in respect of credit-sale agreements entered into af ter t he commencement of th is Ac t .

(3) W h e r e a deposi t is p rov ided in connection

with a credit-sale agreement , the deposit shall not , for the purposes of the definition of "Cred i t - sa l e a g r e e m e n t " in subsection one of this section, be reckoned as an

ins ta lment or payment .

(4) W h e r e by v i r tue of two or more agreements ,

none of which by itself const i tutes a credit-sale agree­ ment , there is a t ransac t ion which is in substance or effect a credit-sale agreement as hereinbefore defined, the agreements shall be t r e a t e d for the purposes of th i s Act as a single agreement entered into when the las t of those agreements was entered into.

3. (1) A seller who enters into a credit-sale agree­ ment without hav ing first obtained from the buyer or proposed buyer t he reunde r in cur ren t coin or bank notes or by cheque d r a w n by a banker or by the buyer or p r o ­

on a banker a deposit of—	posed buyer o r the spouse of the buyer or proposed buyer	(a)	where the minimum amount of the deposit is not prescr ibed unde r p a r a g r a p h (b) of this subsec­ tion, not less than one-tenth of the cash-price of the goods the subject of the agreement. ; or
(b)	where the minimum amount of the deposit is prescr ibed under this p a r a g r a p h , not less than such amount as may for the t ime being be prescr ibed,

shall be guil ty of an offence aga ins t this Act .

A

A regula t ion may prescr ibe—

(i)    t h a t the amount re fe r red to in p a r a g r a p h (b) of th is subsection shall be a t such r a t e or ra tes or shall be calculated on such basis or bases (whether by reference to the cash-price of the goods the subject of the agreement or otherwise)

as m a y be specified in the regula t ion ;

(ii)   rates or bases varying in accordance with different amounts of cash-price, different dura­ t ions of credit-sale agreements or otherwise.

I n this subsection, " c a s h - p r i c e " means the price at

which the goods the subject of the agreement might be
bought for cash.

(2) Notwi ths tanding any th ing contained in sub­ section one of this section, the deposit required by or under tha t subsection may include the value of any goods (not being goods acquired by the buyer or proposed buyer for the purpose of enabling the value of the goods so acquired to be included in t ha t deposi t ) provided or required to be provided by the buyer or proposed buyer to buy the goods under the credit-sale agreement .

(3) A credit-sale agreement entered into in contra­ vention of this section shall be vo id :

P rov ided tha t all moneys paid and the value of any other considerat ion provided by the buyer under the agreement shall be recoverable as a debt due to him by the seller.

4. Any person, other than a banker , who (whether or business of lending or making loans to o ther persons for	not he car r ies on any other business) car r ies on the
the purpose of enabling those o ther persons to pay the deposi ts requi red by or under subsection one of section three of this Act upon the purchase of goods unde r credit- sale agreements shall be guil ty of an offence agains t
th is Act.
5. Any person who accepts as a deposit upon the pur­ chase of goods unde r a credit-sale agreement any money or o ther considerat ion tha t he has reasonable cause to believe or suspect was lent to the buyer by any person, other than a banker, shall be gui l ty of an offence agains t
th is Act. 6.

6.     A n y pe r son who—

(a) enters into any transaction, or makes any con­ t r ac t or a r r angemen t pu rpo r t i ng to do whether p resen t ly or a t some future t ime or upon the happen ing of any event or contingency any­ th ing tha t contravenes or will contravene any of the provis ions of section three , four or five of

th is A c t ; or

(b) enters into any transaction, or makes any con­ t r ac t or a r rangement , whether oral ly or in wri t ­ ing, for the purpose of or which has the effect of, in any way, whether direct ly or indirectly, defeating, evading, avoiding or p reven t ing the opera t ion of any of the provis ions of section three , four or five of this Act in any respect ,

shall be guil ty of an offence aga ins t this Act.

7. Any person guil ty under any of the foregoing p ro ­

visions of this Act of an offence aga ins t this Act shall be

liable on s u m m a r y	conviction—
(a)	if a company—to a penalty not exceeding two
hundred p o u n d s ;
(b)	if any other person—to a penalty not exceeding one hundred pounds or to impr i sonment not exceeding three months or to both such penal ty
and imprisonment .
8. (1) Before any credit-sale agreement is entered into in respect of any goods, the seller shall give or cause to be given to the prospect ive buyer a wr i t t en s ta tement , otherwise than in the note or memorandum, of the purchase-pr ice of the goods :

P rov ided tha t where the agreement is entered into by w a y of acceptance by the seller of a wr i t ten offer (not being a mail o rde r ) signed by or on behalf of the buyer , the foregoing provis ions of this subsection shall be deemed not to have been complied wi th unless the wr i t t en s ta tement was given to the prospect ive buyer before the wr i t ten offer was so signed.

(2)

(2) A seller shall not be entit led to enforce a credit- sale agreement or any contract of guaran tee re la t ing there to , and no securi ty given by the buyer in respect of money payable under the credit-sale agreement or given by a g u a r a n t o r in respect of money payable under such a contract of guaran tee as aforesaid shall be enforceable aga ins t the buyer or gua ran to r by any holder thereof, unless the requirement specified in subsection one of this section has been complied with, and—

(a)	the agreement is in writing signed by or on behalf of the buyer or a note or memorandum of the agreement is made, and is signed by or on behalf of the buye r ; and
(b)	where the agreement is in writing, the agreement specifies, or, where the agreement is not in wri t ing, the note or memorandum specifies—

(i)   the price at which the goods comprised in the agreement might be bought for cash ;

(ii)   where the purchase-price of the goods so comprised includes an amount to cover the expenses of delivering the goods or any of them to the buyer , tha t

amount as f re igh t ;
(iii)	where the purchase-price of the goods the subject of the agreement includes, in respect of goods so comprised which are a motor vehicle, an amount represen t ing any one or more of the following, namely, any fee payable under the Motor Traffic Act, 1909, as amended by subsequent Acts , or the

T r a n s p o r t Act, 1930, as amended by subsequent Acts, or any tax payable upon applicat ion for reg is t ra t ion or renewal of reg is t ra t ion of the motor vehicle or any p remium charged in respect of a th i rd -pa r ty policy within the meaning of the Motor Vehicles (Th i rd P a r t y Insurance) Act, 1942, as amended by subsequent Acts—that

amount as regis t ra t ion fees;

(iv)

(iv)   where the purchase-price of the goods the subject of the agreement includes an amount for insurance (not being insurance under a t h i rd -pa r ty policy within the meaning of the Motor Vehicles (Th i rd P a r t y i n su rance ) Act, 1942, as amended by subsequent Acts) in respect of goods comprised in the agreement which a re goods of any of the descr ipt ions re fe r red to in pa ra ­ g r a p h s ( a ) , (b) and (c) of sub­ section two of section eleven of this Act or a television-set or prescr ibed goods, tha t amount as insurance in respect of the descript ion of goods con­ cerned where there is only one descrip­ tion of goods so comprised and, in any other case, the p a r t of t ha t amount which is charged as insurance in respect of each descript ion of goods so com­

pr ised ;

(v)   the total amount payable in respect of all charges other than those re fer red to in s u b p a r a g r a p h s ( i i ) , (iii) and (iv)

of this p a r a g r a p h ; and

(vi)   the amount of the deposit provided by the buyer in connection wi th the agree­ ment .

I n th is subsection " c h a r g e s " means the difference

between the purchase-pr ice of the goods comprised in	the agreement and the pr ice a t which those goods might
be bought for cash.
(3) (a) I t shall be the du ty of every seller unde r a credit-sale agreement to deliver to the buyer wi thin twenty-eight days af ter the agreement is entered in to—

(i)   where the agreement is in writing, a copy of the agreement , or where the agreement is not in wr i t ing , a copy of the note or m e m o r a n d u m ; and

(ii)

(ii)   where the goods comprised in the agreement comprise or include goods of any one or more of the following descript ions, namely, indus­ t r i a l machinery, f a r m equipment, motor vehicle, television-set or prescr ibed goods, a copy of any insurance policy held by the seller or by any person on behalf of the seller which extends to indemnify the buyer aga ins t loss or damage to, or aga ins t liability in respect of, goods so comprised which a re of any such descript ion

or  descr ip t ions : 

P rov ided tha t where the seller is a banker and the insurance policy so held is a declarat ion policy, it shall be a sufficient compliance with the provisions of this s u b p a r a g r a p h if the seller delivers to the buyer within the twenty-eight days aforesaid a s ta tement set t ing out the te rms, conditions and exclusions of the declarat ion policy so fa r as they concern or affect the purchase r in relat ion to the goods so comprised which a re of any such descript ion or descrip­ t ions.

(b) A n y seller who neglects or fails to comply with any of the requi rements of th is subsection shall be guil ty of an offence and shall be liable on summary conviction to a pena l ty not exceeding twenty pounds .

(c) Non-compliance wi th th is subsection does

not inval idate any credit-sale agreement .

by the buyer in his home and which is made with a buyer	household furn i ture or effects used or intended to be used 9. (1) No credit-sale agreement which re la tes to
who is ma r r i ed shall be enforceable unless—

(a ) (i) the credit-sale agreement or the note or memorandum thereof contains a s ta tement in wr i t ing signed by the spouse of the buyer signifying the consent of such spouse to the

credit-sale ag reemen t ; and

(ii)   such statement is so signed by the spouse at or before the t ime When the credit-sale agreement was entered i n t o ; or

(b)

(b)	the buyer, at or before the time when the credit- sale agreement was entered into, has produced and delivered to the seller an author i ty , signed by the spouse of the buyer , to pledge the credit of the buyer and the spouse or of e i ther of them up to a specified limit which is not more than th i r ty pounds, and the purchase-pr ice of the goods comprised in the credit-sale agreement , together wi th all o ther moneys owing or payable by the buyer and the spouse or ei ther of them to the seller, does not exceed the limit so specified; or
(c)	the buyer, at or before the time when the credit- sale agreement was entered into, has produced and delivered to the seller a s t a tu to ry declara­ t ion made by the buyer to the effect t ha t the spouse of the buyer was unde r such a legal incapaci ty as to r ende r such spouse unable to
sign such s ta tement as a foresa id :

P rov ided tha t th is subsection shall not apply if the seller had reasonable g rounds for believing and did in fact believe, a t the t ime the credit-sale agreement was entered into, that—

(i)   the buyer was living separate and apart from the spouse of the buye r ; or

(ii)   the spouse of the buyer was outside New South W a l e s :

P rov ided fu r ther tha t this subsection shall not apply if, a t or before the t ime when the credit-sale agreement

was entered into, the buyer has produced and delivered

to the seller in a case where the residence of the buyer is s i tua ted more t h a n five miles from the nea res t tele­ g r a p h office and the credit-sale agreement was entered into a t such residence, an ins t rumen t in wr i t ing signed by the buyer , or, in any other case, a s t a tu to ry declara­ t ion made by the buyer, in which ins t rument or s t a tu to ry

declara t ion the buyer s ta tes tha t he was not ma r r i ed a t

the t ime of the del ivery of such ins t rument or s t a tu to ry declarat ion to the seller, unless the seller h a d reasonable grounds for believing t h a t such s ta tement was false.

A n y

A n y buyer who makes a false s ta tement in any such ins t rument shall be guil ty of an offence aga ins t this Act and shall be liable on summary conviction to a penalty not exceeding fifty pounds.

(2) (a) This subsection shall apply to and in respect of a credit-sale agreement of the na tu r e re fer red to in subsection one of this section where the purchase- price of the goods comprised in the agreement does not exceed ten pounds .

(b) W h e r e the seller, unde r any such credit- sale agreement , serves (by persona l del ivery) on the spouse of the buyer , wi thin seven days af ter the agree­ ment was entered into, a notice in wr i t ing t ha t such agreement has been entered into, and the spouse of the buyer does not, within seven days af ter service of such notice, serve on the seller a notice in wr i t ing t ha t he objects to the credit-sale agreement being entered into, the agreement shall not, by reason only of subsection one of this section, be unenforceable.

(c) W h e r e the spouse of the buyer seiwes such notice of objection the credit-sale agreement shall cease to be binding on the pa r t i e s t he r e to ; and thereupon the seller shall refund all moneys pa id and the value of any considerat ion provided by the buyer and shall be entit led to recover the goods comprised in the agreement .

(3) If any seller to whom any such au thor i ty or s t a tu to ry declarat ion or ins t rument as is re fe r red to in this section has been delivered, fails to preserve the same unt i l the expira t ion of twelve months af ter the t r ansac ­	tion in respect of which i t was given is finally closed, he	shall be guil ty of an offence agains t this Act, and shall be
liable on summary conviction—

(a)	if a company—to a penalty of not less than twenty pounds and not exceeding two hundred p o u n d s ;
(b)	if any other person—to a penalty of not less twenty pounds and not exceeding two hundred pounds or to impr isonment for a t e r m of not more than two months , or to both such pena l ty
and imprisonment .

10.      (1) A credit-sale agreement shall provide t ha t the

ins ta lments or paymen t s necessary under the agreement to p a y the difference between the purchase-pr ice and the deposit provided in connection with the agreement shall—

(a) be made a t r egu la r weekly, for tnight ly or

monthly in tervals and at no other	in t e rva l s ;
and

(b) be of equal or approx imate ly equal amounts .

(2) A credit-sale agreement entered into in con­

t ravent ion of this section shall be vo id :

P rov ided tha t all moneys pa id and the value of any o ther considerat ion provided by the buyer under t he agreement shall be recoverable as a debt due to h im by the seller.

11. (1) In this section, " a d d i t i o n a l c h a r g e s " , in rela­

t ion to a credit-sale agreement , means the difference

between—

(a)	the price at which the goods comprised in the credit-sale agreement might be bought for cash
together wi th—

(i)   where the purchase-price includes a sum to cover the expenses of del iver ing the goods so comprised or any of them to the buyer , t ha t sum; and

(ii) where the purchase-pr ice includes, in

respect of goods so comprised which a r e

a motor vehicle, an amount represent­ ing any one or more of the following, namely, any fee payable unde r the Motor Traffic Act, 1909, as amended by subsequent Acts , or the T r a n s p o r t Act, 1930, as amended by subsequent Acts , or any tax payable upon applicat ion for reg i s t ra t ion or renewal of regis t ra­ t ion of the motor vehicle or any p remium charged in respect of a th i rd- p a r t y policy within the meaning of the

Motor

Motor Vehicles (Th i rd P a r t y Insur ­

ance) Act, 1942, as amended by

subsequent Acts , t ha t amoun t ; and

(iii)   where the purchase-price includes an amount for insurance (not being insur­ ance under a th i rd -pa r ty policy within the meaning of the Motor Vehicles (Th i rd P a r t y Insurance) Act, 1942, as amended by subsequent Acts) in respect of goods so comprised which a re goods of any of the descript ions re fe r red to in p a r a g r a p h s ( a ) , (b) and (c) of subsection two of this section or a television-set or prescr ibed goods,

t ha t amount , and

(b) the purchase-price of the goods so comprised.

(2) The addi t ional charges in re la t ion to a credit-

sale agreement shall not, when calculated as a r a t e per centum per annum in accordance wi th the formula set

out in th is subsection, exceed a r a t e per annum of—

(a)	where the goods comprised in the agreement, not being second-hand goods a t the t ime when the agreement is entered into, a r e any one or more of the following only, namely, indus t r i a l machinery, f a rm equipment or a motor vehicle (other than a motor cycle)—seven per centum;
(b)	where the goods comprised in the agreement, being second-hand goods a t the t ime when the
agreement is entered into, a re any one or more of the following only, namely, indus t r ia l
machinery , fa rm equipment or a motor vehicle (o ther t han a motor cycle)—nine pe r cen tum;
(c)	where the goods comprised in the agreement a r e a motor cycle—nine pe r cen tum;
(d)	where the goods comprised in the agreement a re goods which a re not of any of the descrip­ t ions in respect of which a ra te is fixed by or unde r p a r a g r a p h (a) or (b) or (c) of this sub­ section—ten pe r centum;

(e)

(e) where the goods comprised in the agreement include goods of the descript ion or of any one or more of the descr ipt ions re fe r red to in one of the above p a r a g r a p h s of this subsection and also goods of the descript ion or of any one or more of the descript ions re fe r red to in one or more of the other such p a r a g r a p h s — t h e lower or lowest, a s the case may be, of the amounts pe r centum prescr ibed, by the above p a r a g r a p h s in respect of a descript ion of goods so comprised.

The r a t e re fe r red to in the foregoing provis ions of

this subsection shall be calculated in accordance with

the following fo rmula :—

100 x C

R =

T x P

where

R represen t s the addi t ional charges calculated as a r a t e pe r centum per annum.

C represen t s the to ta l amount of addi t ional charges

expressed in pounds and fract ions of pounds .

T represen t s the t ime t h a t elapses between the da te fixed by or under the agreement for the making of the first ins ta lment o r paymen t and the da te fixed by or under the agreement for the making of the last ins ta lment or payment , together wi th—

(i)	one week where the instalments or pay­ ments a r e payable under the agreement
a t r egu la r weekly in t e rva l s ;
(ii)	two weeks where the instalments or paymen t s a r e payable under the agree­ ment a t regu la r for tn ight ly i n t e rva l s ;
(iii)	one month where the instalments or paymen t s a re payable unde r the agree­
ment a t regu la r month ly in tervals ,

expressed in yea r s and fract ions of years .

P

P rep resen t s the difference between the price a t which the goods comprised in the agreement might be bought for cash and the amount of the deposi t provided by the buyer, together with—

(i)   where the purchase-price includes a sum to cover the expenses of delivering the goods so comprised or any of them to the buyer, t ha t sum; and

(ii)   where the purchase-price includes, in respect of goods so comprised which a re a motor vehicle, an amount represen t ing any one or more of the following, namely, any fee payable under the Motor Traffic Act, 1909, as amended by subsequent Acts , or the T r a n s p o r t Act, 1930, as amended by subsequent Acts , or any t ax payable upon applicat ion for reg is t ra t ion or renewal of reg i s t ra t ion of the motor vehicle or any p remium charged in respect of a t h i rd -pa r ty policy within the meaning of the Motor Vehicles (Th i rd P a r t y Insurance) Act, 1942, as amended by subsequent Acts , tha t

amoun t ; and

(iii)   where the purchase-price includes an

amount for insurance (not being

insurance under a t h i rd -pa r ty policy

within the meaning of the Motor

Vehicles (Thi rd P a r t y Insurance) Act, 1942, as amended by subsequent Acts) in respect of goods so comprised which are goods of any of the descript ions refer red to in p a r a g r a p h s ( a ) , (b) and (c) of this subsection or a television-set or prescr ibed goods, tha t amount ,

expressed in pounds and fract ions of pounds.

(3) A credit-sale agreement entered into in contravent ion of subsection two of this section shall be vo id :

P rov ided

Prov ided tha t all moneys pa id and the value of any other considerat ion provided by the buyer under the agreement shall be recoverable as a debt due to him by the seller.

12. (1) The Governor may, for the purposes of subsection th ree of this section, make regula t ions prescr ib ing r a t e s for insurance in respect of any class or classes of goods.

I n the exercise of the power conferred by the foregoing
provisions of this subsection, but wi thout l imit ing the

genera l i ty of t ha t power, the regula t ions may provide—

(a)	different rates for insurance in respect of different classes of goods ;
(b)	different rates in respect of different parts of
the S t a t e ;

(c) ra tes on a sliding scale;

(d) r a t e s according to or upon any specified

pr inciple or cr i ter ion.

(2) The power conferred by subsection one of this section shall be deemed to be validly exercised by a regula t ion which prescr ibes any such r a t e s as a r e re fe r red to in tha t subsection by reference to a list, scale or table of insurance ra tes re fe r red to in the regulat ions and issued by a body or associat ion which the Governor considers to be represen ta t ive of insurance companies ca r ry ing on business of the class to which the list, scale or table re la tes or by reference to any regula t ions made

under the provis ions of section 26D of the Hi re -purchase

Agreements Act, 1941, as amended by subsequent Acts . (3) W h e r e the purchase-pr ice of goods the

subject of a credit-sale agreement includes an amount for insurance in respect of goods comprised in the agreement which a re goods of a class in respect of which r a t e s of insurance a re , a t the t ime when the agreement is entered into, prescr ibed under this section and tha t amount exceeds the amount tha t would have been payable for insurance in respect of the goods so comprised h a d those goods been insured in accordance with those ra tes , the agreement shall be vo id :

P rov ided

Prov ided tha t all moneys pa id and the value of any other considerat ion provided by the buyer under the agreement shall be recoverable as a debt due to him by the seller.

13. (1) (a) I n this section "cred i t - sa le a g r e e m e n t "

includes a credit-sale agreement tha t has been var ied for the purpose of including addi t ional goods in the agreement .

Noth ing in this p a r a g r a p h shall be construed as

l imit ing the genera l i ty of the definition of "Cred i t - sa le a g r e e m e n t " in subsection one of section two of this Act.

(b) This section applies to and in respect of credit-sale agreements entered into before the commence­ ment of this Act as well as to credit-sale agreements entered into after tha t commencement.

(c) This section does not apply to or in respect of any credit-sale agreement where, ei ther before or af ter any var ia t ion of the agreement , the goods the subject of the agreement comprise or include indus t r ia l machinery, f a rm equipment or a motor vehicle.

(2) W h e r e a credit-sale agreement is var ied or is
p roposed to be var ied for the purpose of including

addi t ional goods in the agreement it shall only be

necessary to comply with or observe the provis ions of th is Act (subject to the modifications set out in subsection	th ree of th is section) in respect of the var ia t ion or
p roposed var ia t ion as though the only goods comprised in the agreement which resul ts from the var ia t ion or which will resul t f rom the proposed var ia t ion were the
addi t ional goods.
The foregoing provis ions of this subsection apply only where—

(a) the agreement proposed to be so varied or the agreement before it is so var ied is not or was not unenforceable by the seller or void ;

(b)

(b)	the agreement when so varied also specifies the balance payable under the agreement imme­ diately before it was so v a r i e d ;
(c)	the provisions of the agreement when so varied, so fa r as they relate to goods comprised in the agreement before it was so var ied , a re not less favourable to the buyer t han the provis ions of the agreement before it was so var ied .

(3) F o r the purposes of subsection two of th is

section—

(a) section three of this Act shall be deemed to be omit ted f rom this Act if the to ta l amount of the moneys pa id and the value of any o ther considerat ion provided by the buyer unde r the agreement dur ing the per iod of two yea r s immediately preceding the da te on which the agreement is so var ied is not less t han—

(i)   where a percentage is not prescribed

under s u b p a r a g r a p h (ii) of th is p a r a ­

g r a p h a t the t ime when the agreement is so var ied—twenty pe r centum of the cash-price of the addi t ional goods ; or

(ii)   where a percentage is prescribed under this s u b p a r a g r a p h a t the t ime when the agreement is so var ied—the percentage so prescr ibed of the cash-price of the

addi t ional goods ;

(b) where no deposit is required p u r s u a n t to

p a r a g r a p h (a) of this subsection and no deposit

is in fact provided by the buyer—	(i)	subsection one of section ten of this Act shall have effect as though the words " t h e difference between the purchase- price and the deposit provided in connection with the a g r e e m e n t " were omitted theref rom and the words " t h e p u r c h a s e - p r i c e " were inser ted in lieu
thereof;
(ii)	subsection two of section eleven of this Act shall have effect as though the words " t h e difference between the pr ice

a t

a t which the goods comprised in the agreement might be bought for cash and the amount of the deposit provided by the b u y e r " were omitted theref rom and the words " t h e amount for which the goods comprised in the agreement might be bought for c a s h " were inser ted in lieu thereof.

(4) Notwi ths tanding any th ing contained in this Act

where a credit-sale agreement has been var ied p u r s u a n t to th is section, i t shall be a sufficient compliance wi th section ten of this Act so fa r as the balance payable under the agreement by the buyer immediate ly before the agreement is var ied is concerned if t ha t balance is made payable in equal or approximate ly equal amounts payable a t the same regula r in tervals and by the same number of ins ta lments or payments as a re provided by the agree­ ment as so var ied in respect of the addi t ional goods.

14. (1) The Governor m a y make regulat ions not inconsistent with this Act prescr ib ing all m a t t e r s which a r e requi red or permi t ted to be prescr ibed by this Act or which a re necessary or convenient to be prescr ibed for ca r ry ing out or giving effect to this Act.

(2) The regula t ions shall—

(a) be published in the Gazet te ;

(b)	take effect from the date of publication or from a la te r da te to be specified in the regu la t ions ;
and
(c)	be laid before both Houses of Parliament within fourteen s i t t ing days af ter publication thereof if P a r l i a m e n t is in session, and if not, then
within fourteen s i t t ing days af ter the

commencement of the next session.

If ei ther House of Pa r l i amen t passes a resolut ion of which notice has been given a t any t ime within fifteen s i t t ing days af ter such regulat ions have been laid before such House disallowing any regulat ion or p a r t thereof, such regulat ion or p a r t shall thereupon cease to have effect.

CROWN