Report No. 168

2. Amendment of section 2.-

In section 2 of the Hire-purchase Act, 1972 (hereinafter referred to as the principal Act),-

(a) in clause (d), for the words "but does not include any sum payable as a penalty or as compensation or damages for a breach of the agreement", the following shall be substituted, namely:-

"but does not include any sum-

(i) payable as expenses for delivering the goods to the hirer and the installation thereof, in accordance with the terms of the agreement, or

(ii) payable as any fee, in respect of the goods and the agreement, for the purposes of registration or otherwise under any law for the time being in force, or

(iii) payable as insurance premium, and

(iv) payable as a penalty or as compensation or damages for a breach of the agreement."

(b) after clause (f), the following clause shall be inserted, namely:-

'(ff) "prescribed" means prescribed by rules made under this Act;'