129What is a *hire of goods*?

129 What is a *hire of goods*? (1) A ***hire of goods*** is an arrangement under which goods are or may be used at any time by a person other than the person hiring out the goods, unless the arrangement is excluded under section 132. (2) There are 2 kinds of hire of goods, namely— (a) an equipment financing arrangement; and (b) an ordinary (that is, any other) hire of goods.