Malaysia legislation
Section 11
Seksyen 11
Seksyen 14 Akta ibu dipinda—
(a)
dengan memotong subseksyen (2); dan
(b)
dengan memasukkan selepas subseksyen (3) subseksyen yang berikut:
“(4) For the purposes of this section, “net balance due”
means—
(a)
the outstanding amount financed; and
(b)
terms charges accrued and calculated up to the next due date of payment or the day specified in the notice, whichever is later, less any surrender value of a contract of insurance where—
(i)
the contract of insurance is taken to cover the amount financed;
(ii)
the premium for the contract of insurance is paid by the hirer in instalments to the owner; and
(iii)
the surrender value is received or will be received by the owner upon cancellation of such contract.”.
Pindaan seksyen 15