Criticism of H.P. bill

Press, Volume CXI, Issue 32777, 30 November 1971, Page 21

Criticism of H.P. bill

(N.Z. Press Association) AUCKLAND, Nov. 29. A simple mistake in a hire purchase agreement could give a buyer a bonus under the hire purchase bill as it stood, the director of the Chamber of Commerce (Mr W. N. Pearman) said. He said the bill provided that if the vendor did not comply exactly with the requirements he could not obtain judgment for any sum payable or recover the goods without going to court. This was just one of the many sections of the bill that made life more difficult for retailers who offered hirepurchase facilities. Details of amendments in Parliament have not been released, but the Acting Minister of Justice (Mr Thomson) said the changes had been made after representations from the “commercial community.” Mr Pearman said the bill iiad gone far further than the recommendations of the inquiry into credit trading, made by the Tariff and Development Board. The inquiry, which began in 1964 and ended in 1968, had found little to criticise in the existinp situation.