Hire-Purchase (Motor Vehicles) (Amendment) Regulations 2020

Status:

Published in Subsidiary Legislation Supplement
on 05 May 2020

No. S 363

Hire-Purchase Act

(CHAPTER 125)

Hire-Purchase
(Motor Vehicles) (Amendment)
Regulations 2020

In exercise of the powers conferred by section 49 of the Hire‑Purchase Act, the Minister for Trade and Industry makes the following Regulations:

Citation and commencement

1. These Regulations are the Hire-Purchase (Motor Vehicles) (Amendment) Regulations 2020 and come into operation on 6 May 2020.

Amendment of regulation 4

2. Regulation 4 of the Hire‑Purchase (Motor Vehicles) Regulations 2013 (G.N. No. S 205/2013) is amended —

(a)

by deleting the word “buyer” in paragraph (1) and substituting the word “hirer”;

(b)

by deleting the words “paragraph (3)” in paragraph (2) and substituting the words “paragraphs (3) and (4)”; and

(c)

by inserting, immediately after paragraph (3), the following paragraphs:

“(4) In paragraph (2), the reference to 7 years is replaced with a reference to 7 years and the period of extension of the tenure of the hire‑purchase agreement in sub‑paragraph (d), if —

(a)	the hire-purchase agreement was made by the hirer and the owner of the motor vehicle on or before 5 May 2020;
(b)	the hirer requests the owner for an extension of the tenure of the hire‑purchase agreement;
(c)	the request is made between 18 February 2020 and the expiry date (both dates inclusive); and
(d)	the owner grants an extension of the tenure of the hire‑purchase agreement for a period not exceeding 12 months.

(5) In this regulation, “expiry date” means the date ending 6 months after the date on which the Ministry of Health announces its risk assessment under the framework commonly known as Disease Outbreak Response System Condition or DORSCON, to be the colour code “Green” in relation to the infectious disease known as Coronavirus Disease 2019.”.

Amendment of regulation 5

3. Regulation 5 of the Hire-Purchase (Motor Vehicles) Regulations 2013 is amended —

(a)

by deleting the words “paragraph (3)” in paragraph (2) and substituting the words “paragraphs (3) and (4)”; and

(b)

by inserting, immediately after paragraph (3), the following paragraphs:

“(4) In paragraph (2), the reference to 7 years is replaced with a reference to 7 years and the period of extension of the tenure of the conditional sale agreement in sub‑paragraph (d), if —

(a)	the conditional sale agreement was made by the buyer and the owner of the motor vehicle on or before 5 May 2020;
(b)	the buyer requests the owner for an extension of the tenure of the conditional sale agreement;
(c)	the request is made between 18 February 2020 and the expiry date (both dates inclusive); and
(d)	the owner grants an extension of the tenure of the conditional sale agreement for a period not exceeding 12 months.

(5) In this regulation, “expiry date” has the meaning given by regulation 4(5).”.

[G.N. No. S 241/2016]

Made on 4 May 2020.

GABRIEL LIM

Permanent Secretary,
Ministry of Trade and Industry,
Singapore.

[MTI/919/02-004PT Vol. 019; AG/LEGIS/SL/125/2020/1 Vol. 1]

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