160Contract for sale of second-hand vehicle to be in approved

160 Contract for sale of second-hand vehicle to be in approved form (1) A contract by a dealer to sell a second-hand motor vehicle must be made in writing in the approved form, and a dealer who contracts to sell such a vehicle otherwise than in compliance with this requirement is guilty of an offence. (2) Where a dealer contracts to sell a second-hand motor vehicle otherwise than in writing in the approved form, the purchaser may rescind the contract by giving a written notice of rescission to the dealer not later than 3 months after the date of the contract. (3) Where a contract is rescinded pursuant to subsection (2): (a) the dealer shall return or refund to the purchaser any consideration given by the purchaser under the contract, or the value of any such consideration as at the date of the contract; and

Consumer Affairs and Fair Trading Act 1990 72 (b) the purchaser shall return or refund to the dealer: (i) the vehicle, or its value as at the date of the contract; and (ii) any other consideration given by the dealer under the contract, or the value of any other such consideration as at the date of the contract. (4) A person who returns a vehicle or other thing to another pursuant to subsection (3) is liable to pay compensation to the other in respect of any damage to, or depreciation in the value of, the vehicle or thing which is attributable to his or her failure to take reasonable care of it, but is not liable for any damage or depreciation attributable to normal use of the vehicle or thing or to circumstances beyond his or her control. (5) The obligations imposed by subsections (3) and (4) may be enforced by action in any court of competent jurisdiction. (6) A court finding guilty a dealer of an offence against subsection (1) is competent to make orders, on the application of the prosecutor, for the enforcement of obligations imposed by subsections (3) and (4). (7) A person who fails to comply with an order under subsection (6) is 2 500 penalty. (8) Additional requirements in relation to a contract under this section may be prescribed by regulation.