Hire-Purchase (Amendment) Act 1997 (Vic)

Hire-Purchase (Amendment) Act 1997

Act No. 19/1997

TABLE OF PROVISIONS

Section Page

1.	Purpose	1
2.	Commencement	1
3.	Principal Act	2
4.	Definitions	2
5.	Content of hire-purchase agreement	2
6.	New section 3A inserted	2
3A. Reimbursement of rental business duty	2
7.	Amendment of First Schedule	4

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NOTES 5

i

Victoria

No. 19 of 1997

Hire-Purchase (Amendment) Act 1997†

[Assented to 6 May 1997]

The Parliament of Victoria enacts as follows:

1. Purpose

The purpose of this Act is to amend the Hire- rental business duty to the hirer.

2. Commencement

This Act is deemed to have come into operation on 1 May 1997.

Hire-Purchase (Amendment) Act 1997

Act No. 19/1997 s. 3

3. Principal Act No. 6531.
Reprinted to

In this Act the Hire-Purchase Act 1959 is called	No. 57/1989
the Principal Act.	and subsequently
amended by Nos 41/1995 and 35/1996.

4. Definitions

In section 2(1) of the Principal Act—

(a)

after the definition of "period of the ' "rental business duty" means duty

payable under section 131AC of the

Stamps Act 1958;';

(b) in the definition of "total amount payable" after "agreement" insert ", other than amounts by way of reimbursement of rental business duty".

5. Content of hire-purchase agreement

In section 3(2)(c) of the Principal Act—

(a)	at the end of sub-paragraphs (i), (ii), (iii) and (v) insert "and";
(b)	after sub-paragraph (v) insert— "(vi) if the agreement imposes an obligation

on the hirer to reimburse the owner for rental business duty, a statement to that effect;".

6. New section 3A inserted

After section 3 of the Principal Act insert—
"3A. Reimbursement of rental business duty

Hire-Purchase (Amendment) Act 1997

Act No. 19/1997

(1) A hire-purchase agreement may impose an

obligation on the hirer to reimburse the

Hire-Purchase (Amendment) Act 1997

Act No. 19/1997 s. 7

owner in respect of a liability incurred by the
owner for rental business duty referable to
the agreement.

(2) If a hire-purchase agreement entered into on

or after 1 January 1997 but before 1 May
1997 imposes an obligation on the hirer to
reimburse the owner in respect of
government duties or charges, that
agreement imposes an obligation on the hirer
to reimburse the owner in respect of any
liability incurred on or after 1 May 1997 by
the owner for rental business duty referable
to the agreement.

(3) Sub-section (2) does not apply if the hire-

purchase agreement specifically excludes the

reimbursement of rental business duty.".

7. Amendment of First Schedule

In the First Schedule to the Principal Act—

(a) after "The difference between the cash price of the goods and the total amount you will have to pay is therefore $" insert—

"# In addition to the total amount above,

you will have to reimburse the owner of
the goods for any rental business duty
for which the owner becomes liable
under the Stamps Act 1958 in relation

to this agreement.";

(b) after "* Insert short description of goods." insert—

"# Include this statement if the agreement

will impose an obligation on the hirer
to reimburse the owner for rental

business duty.".

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Hire-Purchase (Amendment) Act 1997

Notes Act No. 19/1997

NOTES

†

Minister's second reading speech—

Legislative Assembly: 3 April 1997

Legislative Council: 24 April 1997

The long title for the Bill for this Act was "to amend the Hire-Purchase
Act 1959 and for other purposes."