Hire-Purchase Act

3. Application

Edition: 2022-12-31 · In force

3. Application

(1)This Act applies to and in respect of all hire-purchase agreements entered into after the commencement of this Act under which the hire-purchase price does not exceed the sum of four million shillings or such other higher or lower sum as the Cabinet Secretary may, after taking into account market forces from time to time prevailing, prescribe other than a hire-purchase agreement in which the hirer is a body corporate, wherever incorporated:Provided that monetary limitation does not apply so as to affect the definition of "hire-purchase business" in section 2(1).

(2)Notwithstanding subsection (1), nothing in this Act shall apply to any Scheme controlled, managed or guaranteed by the Government for the purpose of providing loans to any persons for the purchase of motor vehicles.[Act No. 11 of 1970, Sch., Act No. 11 of 1992, Act No. 7 of 2007, Sch.]

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Source: Kenya Law