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Report No. 168

10. Amendment of section 17.-

In section 17 of the principal Act,-

(a) In sub-section (1),-

(i) in the opening portion, after the words "by which the hire-purchase price", the words "together with such incidental charges and expenses as may be payable 'under the terms of the agreement" shall be inserted;

(ii) in clause (ii), the words "on the date of seizure" shall be omitted;

(b) in sub-section (2), in the opening portion, for the words "the value of any goods on the date of seizure", the words "the value of any goods in a case where the goods are required by any law for the time being in force to be registered in the owner's name, on the date of such registration and in any other case on the date of seizure" shall be substituted;

(c) after sub-section (4), the following sub-section shall be inserted, namely:-

"(5) Where the owner seizes the goods under clause (c) of section 19, the goods let under a hire-purchase agreement and if, within fourteen days of the date of such seizure, the hirer

(i) pays or tenders to the owner the hire in arrears up to the date of payment or tender, together with such incidental charges and expenses as may be payable under the terms of the agreement;

(ii) remedies any breach of agreement or (where he is unable to remedy the breach by reason of the fact that the owner has seized the goods) pays or tenders to the owner the costs and expenses reasonably and actually incurred by the owner in doing any act, matter or thing necessary to remedy the breach;

(iii) pays or tenders to the owner the reasonable costs and expenses of the owner of and incidental to his seizure of the goods and of his returning them to or to the order of the hirer, the owner shall return the goods to the hirer, except in a case where the goods are disposed of by way of sale or by way of hire-purchase as the case may be before the hirer makes the payment or remedies the breach as contemplated by this sub-section, and on such return the goods shall be recovered and held by the hirer pursuant to the terms of the hire-purchase agreement as if the agreement had not been terminated and the owner had not taken possession of the goods".



The Hire-Purchase Act, 1972 Back




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