IRISH BANKRUPT AND INSOLVENT ACT 1857 - SECT 313A Hire-purchase etc., agreements .

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IRISH BANKRUPT AND INSOLVENT ACT 1857 - SECT 313A

Hire-purchase etc., agreements .

313A.(1) Goods

(a)bailed under a hire-purchase agreement or a consumer hire agreement, or

(b)agreed to be sold under a conditional sale agreement, or

(c)subject to a regulated agreement under which a bill of sale is given by way
of security.

(i)the service of a default notice under the Consumer Credit Act 1974 in
respect of the goods, and

(ii)the date on which the notice expires or is earlier complied with,

(2) In this section

"conditional sale agreement" means an agreement for the sale of goods under
which the purchase price or part of it is payable by instalments, and the
property in the goods is to remain in the seller (notwithstanding that the
buyer is to be in possession of the goods) until such conditions as to the
payment of instalments or otherwise as may be specified in the agreement are
fulfilled;

"consumer hire agreement" has the meaning given by section 15 of the Consumer
Credit Act 1974;

"creditor" means the person bailing goods under a hire-purchase agreement or,
as the case may be, the seller under a conditional sale agreement or the
person providing credit under a regulated agreement, and includes the person
to whom his rights and duties under the agreement have passed by assignment or
operation of law;

"owner" means a person who bails out goods under a consumer hire agreement or
the person to whom his rights and duties under the agreement have been passed
by assignment or operation of law; and

"regulated agreement" has the meaning given by section 189 of the Consumer
Credit Act 1974;

"hire-purchase agreement" means an agreement, other than a
conditional sale agreement, under which

(a)goods are bailed or (in Scotland) hired in return for periodical payments
by the person to whom they are bailed or hired, and

(b)the property in the goods will pass to that person if the terms of the
agreement are complied with and one or more of the following occurs

(i)the exercise of an option to purchase by that person,

(ii)the doing of any other specified act by any party to the agreement,

<(iii)the happening of any other specified event.]


S.314 rep. by 1929 c.1 (NI) (20 Geo.5) s.29 sch.2 and replaced by s.12 of that
Act. S.315 rep. by 1980 NI 4 art.44(2)(b) sch.3

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Northern Irish Legislation

IRISH BANKRUPT AND INSOLVENT ACT 1857 - SECT 313A