35Right of cancellation

35 Right of cancellation

35 Right of cancellation

(1) A person acquiring shares or an option under a contract which complies with section 34 (1) may cancel that contract at any time before the end of the period of 1 month beginning with the day after the date on which the contract was entered into by giving to the loan fund company named in the statement required under section 34 (1) (b) a notice in or to the effect of the form set out in Schedule 2 or any other written form of notice if, however expressed, it indicates the intention of the person to cancel the contract.

(2) Notice pursuant to subsection (1) may be given:

(a) by delivering it personally at the address specified in the statement required under section 34 (1) (b), or

(b) by properly addressing, prepaying the postage on and posting a letter containing the notice to the loan fund company specified in that statement at that address.

(3) If the notice is posted in accordance with subsection (2) (b), the notice shall be deemed to have been given to the loan fund company at the time when it is posted.