Australian Capital Territory Repealed Acts

This legislation has been repealed.

LAY-BY SALES AGREEMENTS ACT 1963 (REPEALED) - SECT 4

    (1)     Subject to this section, a person shall not agree to sell goods under a lay-by sale agreement unless the goods are in his or her possession at the time when the agreement is made.

Maximum penalty: 50 penalty units.

    (2)     A person may agree to sell under a lay-by sale agreement goods not in his or her possession at the time when the agreement is made if the agreement provides that—

        (a)     the seller shall not accept any payment, other than a deposit not exceeding ¹ / 5 of the purchase price of the goods, until the goods have been received into the possession of the seller, and have been inspected and approved by the buyer; and

        (b)     any time fixed for the payment of the purchase price (other than the deposit) shall begin to run as from the day when the goods are so inspected and approved by the buyer.

    (3)     The seller shall hold the money received in relation to a lay-by sale agreement of goods referred to in subsection (2) exclusively for the benefit of the buyer to be disbursed as he or she directs.

Maximum penalty: 50 penalty units.