Clause 2

Section 26 of the Hire-Purchase Act (hereinafter in this Act referred to as “the principal Act”) is hereby amended by inserting immediately after subsection (3) thereof the following new subsection: —“(4) Where any goods comprised in a hire-purchase agreement are insured in the joint names of the owner and the hirer against any risk with a particular registered insurer, any hirer who during the period of the hire-purchase agreement insures those goods against any risk with another registered insurer without first informing the owner thereof shall be guilty of an offence under this Act.”.