Clause 14

Section 26 of the Hire-Purchase Act is amended by deleting subsection (4) and substituting the following 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, there shall be an implied condition in the agreement that the hirer shall not, during the period of the agreement, insure those goods against any risk with another registered insurer without first informing the owner thereof.”.