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Hire-Purchase (Amendment) Act, 1960

Restriction of section 5 of the Principal Act.

23.—(1) Section 5 of the Principal Act shall not apply in relation to hire-purchase agreements made after the commencement of this Act in respect of plant or machinery (other than mechanically propelled vehicles) which is intended for use in an industrial process and the cash price (within the meaning of section 3 of the Principal Act) of which exceeds two hundred pounds.

(2) The Schedule to the Principal Act shall, as respects hire-purchase agreements to which subsection (1) of this section relates, have effect as if “Right of Hirer to terminate Agreement” and the first four paragraphs in the notice therein prescribed were deleted.