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Emergency Laws (Re-enactments and Repeals) Act 1964

Consolidated Text As Enacted Cited authorities 36 Cited in Amendments 125 Related
Vincent
JurisdictionUK Non-devolved
Citation1964 c. 60
(1) The Board of Trade or the Secretary of State may by order provide for imposing in respect of the disposal, acquisition or possession of articles of any description under hire-purchase F1conditional sale agreements, credit sale agreements or hire agreements such prohibitions or restrictions as appear to the Board of Trade to be required for restricting excessive credit.(2) In this section—
  • “conditional sale agreement” means an agreement for the sale of any article under which the purchase price, or part of it is payable by instalments, and the property in the article is to remain in the seller (notwithstanding that the buyer is to be in possession of the article) until such conditions as to the payment of instalments or otherwise as may be specified in the agreement are fulfilled;
  • “credit-sale agreement” means an agreement for the sale of any article, under which the purchase price or part of it is payable by instalments, but which is not a conditional sale agreement;
  • “hire-purchase agreement” means an agreement, other than a conditional sale agreement under which—
    • (a) an article is bailed or (in Scotland) hired in return for periodical payments by the person to whom it is bailed or hired, and
    • (b) the property in the article will pass to that person if the terms of the agreement are complied with and one or more of the following occurs—
    • (i) the exercise of an option by that person;
    • (ii) the doing of any other specified act by any party to the agreement;
    • (iii) the happening of any other specified event; and
  • “hire agreement” means an agreement for the bailment or (in Scotland) the hiring of an article which is not a hire-purchase agreement.
(3) Schedule 1 to this Act shall apply for the purposes of this section.(4) . . . requires the person to whom the order is given to make any payment or to part with any gold or securities; orrequires any change to be made in the persons to whose credit any sum is to stand or to whose order any gold or securities are to be held.(2) Where any directions are given under this section with respect to any country or territory, a branch in that country or territory of any business, whether carried on by a body corporate or otherwise, shall, for the purposes of this section, be treated in all respects as if the branch were a body corporate resident in that country or territory.(3) In this section, unless the context otherwise requires:—
  • “gold” means gold coin or gold bullion;
    • “security”, except in so far as is otherwise expressly provided, includes—
    • (a) shares, stocks, bonds, notes, debentures, debenture stock . . .
    • (b) a deposit receipt in respect of the deposit of securities;
    • (c) a unit or a sub-unit of a unit trust;
    • (d) an annuity granted under the Government Annuities Act 1929, or to which either Part I or Part II of that Act applies, and a life assurance policy or other contract entered into with an assurance company for securing the payment in the future of any capital sum or of an annuity;
    • (e) a warrant conferring an option to acquire a security;
    • (f) a share in an oil royalty;
    but does not include a bill of exchange or a promissory note;
and references in this section to the United Kingdom shall be construed as if the Channel Islands and the Isle of Man were part of the United Kingdom.(4) Any consent or permission granted by or on behalf of the Treasury under this section may be granted either absolutely or subject to conditions.(5) This section, and directions having effect under this section, and the following provisions of this Act so far as they relate to this section, shall extend to the Channel Islands and the Isle of Man as if those islands were part of the United Kingdom.(1) Any order made under this Part of this Act, and any general direction given under section 2 of this Act, shall be made or given by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliment.(2) Any power conferred by this Part of the Act, to make any order or give any direction shall be construed as including a power, exercisable in the like manner and subject to the like conditions, if any, to revoke or vary the order or direction.(3) Any power of making orders under this Part of the Act shall include power to provide for any incidental and supplementary provisions for which the Minister making the order thinks it expedient for the purposes of the order to provide, including, in the case of orders under section 1 of this Act, provisions requiring persons to retain documents recording hire-purchase agreements and other agreements.(4) An order under this Part of this Act may make such provisions (including provision for requiring any person to furnish any information) as the Minister making the order thinks necessary or expedient for facilitating the introduction or operation of a scheme of control for which provision has been made, or for which, in the opinion of the Minister, it will or may be found necessary or expedient that provision should be made, under this Part of this Act.(5) An order under this Part of this Act may prohibit the doing of anything regulated by

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