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Articles acquired on hire-purchase system.
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3.—Where any article is hired by a person under an agreement whereby it is provided that, upon payment by him of a specified number of instalments, the ownership of such article shall pass to him, such article shall, for the purposes of this Act, be deemed to have been sold to him by the person from whom such article was hired, and such sale shall, for the said purpose, be deemed to have taken place on the date on which such agreement is entered into.
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