H.P. Protection in New Bill
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FROM OUR POLITICAL CORRESPONDENT
THE Minister of Transport will he able to make regulations minimizing the chances of fraud in second-hand vehicle deals if the Government's Hire Purchase Bill published last week, is passed by Parliament.
The question of innocent third parties losing their vehicles and money after such deals has been given great thought by legal experts in Whitehall. They have come up with a comparatively simple answer.
Once the regulations have been made, the owners or sellers of vehicles involving H.P. agreements will be required to retain the vehicle registration book, and the hirer or buyer will receive a registration card.
Thus, if a sales firm operates its own H.P., it will retain the log book. If the deal involves an H.P. firm, the book w be their property until the debt is di charged.
So anyone buying a second-har vehicle will be entitled to become su picions if there is no log book availabl If a log book is handed over, yet und: charged H.P. is still later claimed, the will be no right of repossession of 11 vehicle from an innocent third part There will be no price limit to ti vehicles covered by this protection.
The B:11 also hoists to £2,000 the stat tory limit to which H.P. deals of at kind will be covered by the laws. TIfigure has been increased from the o ceiling of £300 mainly to take in vehick though it also acknowledges that bi money H.P. is corning within the ran: of more and more people.