CHAPTER 399 - HIRE-PURCHAGE ACT: SUBSIDIARY LEGISLATION
INDEX TO SUBSIDIARY LEGISLATION
Hire-Purchage (Limitation of Time) (Variation) Notice
Hire-Purchage (Finance Charges) Notice
Exemption from Part III of the Hire-Purchage Act
Hire-Purchage (Schedule) (Variation) Order
Hire-Purchage (Exemption) Order
HIRE-PURCHASE (LIMITATION OF TIME) (VARIATION) NOTICE
[Section 26]
Arrangement of Paragraphs
Paragraph
1. Title
2. Time limit for certain actions
[Notice by the Minister]
GN 224 of 1958.
This Notice may be cited as the Hire-Purchase (Limitation of Time) (Variation) Notice.
2. Time limit for certain actions
The number of days from the end of the period within which the full purchase price is payable under an agreement within which a suit or action shall be instituted for the return of any goods to which the agreement relates or for the recovery of any portion of the purchase price due under the agreement is hereby increased to three hundred and sixty-five days.
HIRE-PURCHASE (FINANCE CHARGES) NOTICE
Arrangement of Paragraphs
Paragraph
1. Title
2. Purchase price
[Notice by the Minister]
SI 33 of 1985.
This Notice may be cited as the Hire-Purchase (Finance Charges) Notice.
For all classes of agreement, the purchase price shall not exceed the cash price by more than the aggregate of the following—
(a) reasonable accountancy costs, credit control and collection expenses and other administrative costs connected with the agreement, other than the sums excluded from the purchase price in terms of sub-section (1) of section 3 of the Act; and
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(b) interest, on the balance of the cash price remaining unpaid before the due date of each installment, at a rate-
(i) in respect of new goods, of 7.19 per centum; or
(ii) in respect of used goods, of 9.54 per centum;
over the Bank interest rate as determined by the Bank of Zambia from time to time.
EXEMPTION FROM PART III OF THE HIRE-PURCHASE ACT
[Section 28]
GN 58 of 1957,
GN 439 of 1963.
[Notice by the Minister]
It is hereby ordered that any agreement entered into by the body corporate specified in the Schedule shall be exempted from the provisions of Part III of the Act.
SCHEDULE
Central African Power Corporation
[Am by GN 439 of 1963.]
HIRE-PURCHASE (SCHEDULE) (VARIATION) ORDER
[Section 25]
Arrangement of Paragraphs
Paragraph
1. Title
2. Variation of Schedule to Cap. 691
3. Revocation of SI 257 of 1973
[Order by the Minister]
SI 63 of 1976.
This Order may be cited as Hire-Purchase (Schedule) (Variation) Order.
2. Variation of Schedule to Cap. 691
The Schedule to the Hire-Purchase Act is varied and amended so as to read as follows.
3. Revocation of SI 257 of 1973
The Hire-Purchase (Schedule) (Variation) Order, 1973, is hereby revoked.
[Section 25]
INITIAL PAYMENTS AND PERIODS OF PAYMENT
Class of Goods Description of Goods Percentage of cash to be paid before goods are delivered Period within which purchase price is payable (months) A Agricultural and irrigation machinery and equipment and any other goods mainly used for agricultural purposes where an agricultural officer has certified the intended use of such goods 20 30 B Motor assisted cycles; motor cars including estate cars and station wagons); motor cycles; motor cycle combinations; motor scooters 331/3 24 C Ambulances; hearses; lorries; road passenger vehicles designed to seat more than eight persons; vans designed for commercial purposes; vanettes 331/3 30 D Motor vehicles other than those referred to in Class B and Class C 331/3 24 E Commercial, industrial and mining plant and machinery; earth moving equipment 20 36 F Accounting, adding, calculating and cash register machines; aircraft air— conditioning units; bicycles; boats; cameras; caravans (non-motorised); duplicating machines; floor polishers; furniture; geysers; invalid tricycles; lawn mowers; marine engines (including outboard motors); pianos; radios; radiograms; refrigerators; sewing machines; stoves; tape recorders; television sets; television radiogram sets; vacuum cleaners; washing machines 25 18 G Any other goods 25 18 HIRE-PURCHASE (EXEMPTION) ORDER [Section 28] [Currency mentioned in this regulation should be re-denominated as stipulated under S 4 of Re-denomination Act, 2012, read with S 29 of Bank of Zambia Act, 1996.] Arrangement of Paragraphs Paragraph 1. Title 2. Exemption [Order by the Minister] SI 32 of 1989.
This Order may be cited as Hire-Purchase (Exemption) Order.
Any agreement entered into by the body corporate specified in Part I of the Schedule for the Hire-Purchase of the aircraft specified in Part II of the Schedule shall be exempted from the provisions of the Act. [Paragraph 2] PART I PART II Aircraft being Hire-Purchased—
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