Victorian Numbered Acts Victorian Numbered Acts(1) In section 43(1) of the Principal Act omit "used motor car or an off-trade-premises sales agreement of any".
(2) After section 43(1A) of the Principal Act insert —
"(1B) A motor car trader must provide a purchaser (not being a motor car trader or a body corporate) with a copy of the prescribed form before the purchaser enters into an agreement for the sale of a motor car.
Penalty: 10 penalty units.
(1C) The prescribed form under subsection (1B) must set out—
(a) a statement of the purchaser's rights under this section to terminate the agreement; and
(b) an explanation of the effect of a waiver under this section of the right to terminate the agreement; and
(c) the form of that waiver.".
(3) In section 43(2) of the Principal Act, before "prescribed form" insert "waiver in the".
(4) After section 43(2) of the Principal Act insert —
"(2A) A motor car trader must, subject to and in accordance with the regulations, retain a copy of any prescribed form signed by a purchaser under subsection (2).
Penalty: 10 penalty units.".
(5) For section 43(4)(a) of the Principal Act substitute —
"(a) the vendor under the agreement must pay to the purchaser all money received by the vendor less—
(i) in the case of an agreement for the sale of a used motor car or an off-trade-premises sales agreement of any motor car, the sum of $100 or 1 per cent of the purchase price under the agreement (whichever is the greater); or
(ii) in the case of an agreement for the sale of a new motor car that is not an off-trade-premises sales agreement, the sum of $400 or 2 per cent of the purchase price under the agreement (whichever is the greater); and
(ab) the vendor under the agreement must return to the purchaser any motor car given in satisfaction of any part of the purchase price; and".