Hire-Purchase (Amendment) Act 1997

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					           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
                             ═══════════════

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-
             Purchase Act 1959 to allow for the passing on of
             rental business duty to the hirer.
     2. Commencement
             This Act is deemed to have come into operation
             on 1 May 1997.




                              1
       Hire-Purchase (Amendment) Act 1997
                                                                   s. 3
                 Act No. 19/1997

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
             agreement" insert—
             ' "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




                          2
Hire-Purchase (Amendment) Act 1997
          Act No. 19/1997

 (1) A hire-purchase agreement may impose an
     obligation on the hirer to reimburse the




                3
      Hire-Purchase (Amendment) Act 1997
                                                              s. 7
                Act No. 19/1997

            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.".
              ═══════════════



                         4
                        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."




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Description: Hire-Purchase (Amendment) Act 1997