Hire-Purchase Act 1959

The hirer under a hire‑purchase agreement may, if he has given notice to the owner of his intention so to do, on or before —

where a day is specified for that purpose in the notice, that day; or

where no day is specified for that purpose in the notice, the day proceeding the day on which the next instalment becomes due after the receipt, by or on behalf of the owner, of that notice,

For the purposes of this section the net balance due is balance originally payable under the agreement less any amounts (other than the deposit) paid or provided, whether by cash or other consideration, by or on behalf of the hirer under the agreement, and less —

the statutory rebate for terms charges; and

if the hirer requires any contract for insurance to be cancelled, the statutory rebate for insurance; and

if the hirer requires any contract for maintenance to be cancelled, the statutory rebate for maintenance.

Where a hirer gives notice of his intention to complete the purchase of the goods under subsection (1), and in, or at the time of giving, that notice requests the owner to furnish him with particulars of the net balance due to the owner under the agreement to complete the purchase of the goods in accordance with that notice, the owner shall furnish him with a statement setting out particulars of the net balance due showing the amounts by reference to which the net balance due is to be calculated under subsection (2) as at the day specified pursuant to paragraph (a) of that subsection or on which, pursuant to paragraph (b) of that subsection, the notice has effect.

A person who, in furnishing the particulars required by or for the purposes of subsection (2a) —

makes or authorises the making of a statement that is false or misleading in a material particular; or

omits or authorises the omission of any matter or thing without which the particulars are misleading in a material respect,

A person who fails or refuses to comply with a request made under subsection (2a) commits an offence against this Act.

The rights conferred on the hirer by this section may be exercised by him —

at any time during the continuance of the agreement; or

where the owner has taken possession of the goods, on paying or tendering to the owner before or within 21 days after the owner has served a notice in the form of the Fourth Schedule on the hirer, in addition to the net balance due —

the reasonable costs incurred by the owner of and incidental to his taking possession of the goods; and

any amount properly expended by the owner on the storage, repair, or maintenance of the goods.