76Repossession and restoration

76 Repossession and restoration (1) If the holder of a security interest in a registered vehicle takes possession of the vehicle, or returns possession of the vehicle to the registered operator, the holder must, not later than 14 days after taking the action— (a) fill in a form telling the road transport authority about the action and sign it; and (b) give the completed and signed form to the authority with any duty payable under the Duties Act 1999 for the transfer of (2) The holder of the security interest commits an offence if the holder, or the agent of the holder, does not give the completed form with the amount of the duty (if any) to the road transport authority as required by subsection (1). security interest means an interest in, or a power over, goods that secures payment of a debt or other financial obligation or the performance of any other obligation, and includes any interest in, or power over, goods of a lessor, owner or other supplier of goods, but does not include a possessory lien or pledge.