Section 19

The Fifth Schedule to the principal Act is amended by substituting for paragraph (b) the following paragraph:

“(b) if within twenty-one days, you give notice of intention to finalise the agreement and pay the balance due under the agreement and costs of the re-possession:

The owner’s estimate of the amount required to finalise the agreement is where in the hire-purchase agreement the terms charges are at a fixed or variable rate:

Total amount payable under the agreement

Less deposit and instalments paid RM…………...

Balance due under agreement

Less surrender value of the contract of insurance

Add arrears of interest due on overdue interests

Add costs of re-possession

Storage, repair or maintenance

Total

”.

Hire-Purchase (Amendment)

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