Sch 2 s 97Termination of lay-by agreements by consumers

97 Termination of lay‑by agreements by consumers

(1) A consumer who is party to a lay‑by agreement may terminate the agreement at any time before the goods to which the agreement relates are delivered to the consumer under the agreement.

(2) A supplier of goods who is a party to a lay‑by agreement must ensure that the agreement does not require the consumer to pay a charge (a termination charge) for the termination of the agreement unless:

(a) the agreement is terminated by the consumer; and

(b) the supplier has not breached the agreement.

Note: A pecuniary penalty may be imposed for a contravention of this subsection.

(3) A supplier of goods who is a party to a lay‑by agreement must ensure that, if the agreement provides that a termination charge is payable, the amount of the charge is not more than the supplier’s reasonable costs in relation to the agreement.

Note: A pecuniary penalty may be imposed for a contravention of this subsection.