Western Australian Current Acts Western Australian Current Acts (1) An owner may
require any goods comprised in a hire-purchase agreement to be insured in the
names of the owner and the hirer against any risk that he thinks fit for the
period of the agreement at the expense of the hirer.
(2) Where an owner
requires a hirer to insure against any risk, the owner shall supply a list of
not less than 20 insurers that are acceptable to the owner.
(3) An owner shall not
refuse to enter into a hire-purchase agreement with a person who effects
insurance of the goods for the period of the agreement against such risks and
subject to such terms, conditions, and exceptions as are required by the owner
in the names of the owner and the hirer with an insurer on the list supplied
by the owner pursuant to subsection (2).
(4) An owner shall not
require a hirer to obtain insurance against risks or subject to terms,
conditions, and exceptions that the owner does not require if he arranges the
insurance.
(5) Where, in respect
of the insurance of goods comprised in a hire-purchase agreement, the insurer
allows a no-claim rebate or a rebate of a similar nature, the hirer under the
agreement is entitled to the benefit of the rebate and any person who
knowingly pays or allows any such rebate to an owner commits an offence
against this Act.
(6) Where —
(a) an
insurer or other person pays or confers any commission or other benefit to or
upon an owner, dealer, or other person in respect of a contract of insurance
required by the owner under this section; and
(b) the
amount or value of the commission or benefit (or where separate commissions or
benefits have been paid the aggregate amount or value thereof) exceeds 20% of
the total amount payable by way of premium or premiums under the contract of
insurance,
the insurer and the
person to or upon whom the commission or other benefit was paid or conferred
each commit an offence against this Act.
[Section 20 amended: No. 107 of 1973 s. 18.]