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What is the legislation governing the hire purchase transactions in Malaysia?

Hire purchase (HP) transactions are governed by the Hire Purchase Act 1967 (HP Act).

The Hire Purchase Act sets out the forms and contents of hire purchase (HP) agreements, the legal rights, duties, obligations of hirers and financiers.

The Hire Purchase Act is administered by the Ministry of Domestic Trade, Co-operatives and Consumerism 1.

Back to Hire Purchase (HP)'s Contents


References
  1. Official website of the Ministry of Domestic Trade, Co-operatives and Consumerism MDTCC (Kementerian Perdagangan Dalam Negeri, Koperasi dan Kepenggunaan KPDNKK)


Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)


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Knowledge Base ID :   1296
Last Reviewed :   May 22, 2014
Source :   BankingInfo
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