1Citation
These regulations may be cited as the Hire‑Purchase (General) Regulations 1975.
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Bill homepageThese regulations may be cited as the Hire‑Purchase (General) Regulations 1975.
In these regulations —
Form means a form in Schedule 1;
section means a section of the Act.
[Regulation 2 inserted: Gazette 22 Sep 2006 p. 4116.]
An application pursuant to section 12A by an owner for the consent of the Commissioner for the taking of possession of goods the subject of a hire‑purchase agreement shall be in the form of Form 1.
An application pursuant to section 36A for relief by reason of sickness or unemployment of a hirer against the consequences of a breach of a hire‑purchase agreement shall be in the form of Form 2.
In considering an application referred to in subregulation (1) the commissioner shall have regard to —
the likely duration of the sickness of the hirer;
the likely duration of the period of unemployment of the hirer;
the financial circumstances of the hirer;
the effect that a refusal of relief under section 36A would have on the financial circumstances of the hirer;
where the goods the subject of the hire‑purchase agreement are necessary for the livelihood of the hirer, the effect a breach of the agreement would have on the financial circumstances of the hirer;
the extent of the hirer’s equity in the goods the subject of the hire‑purchase agreement;
the obligations of the hirer in the event of a breach of the hire‑purchase agreement; and
the consequences of a breach of the hire‑purchase agreement for any guarantor of the hire‑purchase agreement.
For the purpose of considering an application referred to in subregulation (1) the commissioner may require the hirer and any guarantor of the hire‑purchase agreement to produce such information as the Commissioner considers necessary.
The explanation of a hirer’s right to a rebate of terms charges pursuant to section 11 on payment of the net balance due to the owner to be given to the hirer pursuant to the provisions of the First Schedule of the Act and to be printed in type known as 10 Point Roman capitals as specified therein is as follows: —
UNDER SECTION 11 OF THE ACT, THE HIRER UNDER A HIRE-PURCHASE AGREEMENT IS ENTITLED TO COMPLETE THE PURCHASE OF THE GOODS BY PAYING OR TENDERING TO THE OWNER THE NET BALANCE DUE TO THE OWNER UNDER THE AGREEMENT. WHEN DOING SO THE HIRER WILL BE ENTITLED TO A “STATUTORY REBATE” OF THE TERMS CHARGES, CALCULATED IN ACCORDANCE WITH THE DEFINITION OF THAT TERM IN SECTION 2 OF THE ACT AS FOLLOWS.
THE AMOUNT OF STATUTORY REBATE SHALL BE CALCULATED IN ACCORDANCE WITH THE FOLLOWING FORMULA —
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WHERE (IN EACH CASE)
“C” = THE AMOUNT OF TERMS CHARGES
“N” = THE NUMBER OF COMPLETE MONTHS OF THE AGREEMENT STILL TO GO
“T” = THE TOTAL NUMBER OF MONTHS IN THE AGREEMENT
INSTALMENTS IN THE EARLY STAGES OF REPAYMENT CONTAIN A LARGER PROPORTION OF THE TERMS CHARGES THAN INSTALMENTS PAID LATER ON TOWARDS THE COMPLETION OF AN AGREEMENT. THIS IS BECAUSE THE GREATER PART OF THE PRINCIPAL AMOUNT IS OWING IN THE EARLY STAGES OF AN AGREEMENT. THIS IS DEMONSTRATED IN THE FOLLOWING EXAMPLES WHERE, FOR EXAMPLE, $260 TERMS CHARGES ARE INCLUDED IN AN AGREEMENT TO BE PAID IN 12 MONTHS BUT THE AGREEMENT IS COMPLETELY PAID OFF WITH
9 MONTHS STILL TO GO — 260 x 9 x 10 = $150 REBATE 12 x 13 (PAY $110
TERMS CHARGES)
6 MONTHS STILL TO GO — 260 x 6 x 7 = $70 REBATE
12 x 13 (PAY $190
TERMS CHARGES)
3 MONTHS STILL TO GO — 260 x 3 x 4 = $20 REBATE
12 x 13 (PAY $240
TERMS CHARGES)
The offences specified in Schedule 2 are offences for which an infringement notice may be issued under Part 2 of the Criminal Procedure Act 2004.
The modified penalty specified opposite an offence in Schedule 2 is the modified penalty for that offence for the purposes of section 5(3) of the Criminal Procedure Act 2004.
The Commissioner may, in writing, appoint persons or classes of persons to be authorised officers or approved officers for the purposes of Part 2 of the Criminal Procedure Act 2004.
The Commissioner is to issue to each authorised officer a certificate, badge or identity card identifying the officer as a person authorised to issue infringement notices.
For the purposes of the Criminal Procedure Act 2004 —
an infringement notice is to be in the form of Form 3; and
a withdrawal of infringement notice is to be in the form of Form 4.
[Regulation 6 inserted: Gazette 22 Sep 2006 p. 4116.]
This is a compilation of the Hire-Purchase (General) Regulations 1975 and includes amendments made by other written laws. For provisions that have come into operation, and for information about any reprints, see the compilation table.
Citation | Published | Commencement | |
|---|---|---|---|
Hire‑Purchase (General) Regulations 1975 | 30 Jan 1975 p. 235‑9 | 30 Jan 1975 | |
Equality of Status Subsidiary Legislation Amendment Regulations 2003 Pt. 14 | 30 Jun 2003 p. 2581‑638 | 1 Jul 2003 (see r. 2 and Gazette 30 Jun 2003 p. 2579) | |
Reprint 1: The Hire‑Purchase (General) Regulations 1975 as at 5 Dec 2003 (includes amendments listed above) | |||
Hire-Purchase (General) Amendment Regulations 2004 | 30 Dec 2004 p. 6922 | 1 Jan 2005 (see r. 2 and Gazette 31 Dec 2004 p. 7130) | |
Hire-Purchase (General) Amendment Regulations 2006 | 22 Sep 2006 p. 4115‑18 | 22 Sep 2006 (see r. 2(a)) | |
Reprint 2: The Hire‑Purchase (General) Regulations 1975 as at 23 Jan 2009 (includes amendments listed above) | |||
Hire-Purchase (General) Amendment Regulations 2013 | 20 Aug 2013 p. 3835 | r. 1 and 2: 20 Aug 2013 (see r. 2(a)); | |
Commerce Regulations Amendment (Infringement Notices) Regulations 2020 Pt. 17 | SL 2020/163 25 Sep 2020 | 29 Sep 2020 (see r. 2(b) and SL 2020/159 cl. 2(a)) | |
[This is a list of terms defined and the provisions where they are defined. The list is not part of the law.]
Defined term Provision(s)
Form 2
section 2
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