57Car F1... hire: supplementaryU.K.
(1)In section 56 “car F2...” means a mechanically propelled road vehicle other than F3...—
[F4(za)a motor cycle (within the meaning of section 185(1) of the Road Traffic Act 1988),]
(a)[F5a vehicle] of a construction primarily suited for the conveyance of goods or burden of any description, or
(b)[F6a vehicle] of a type not commonly used as a private vehicle and unsuitable for such use.
[F7(1A)In section 56—
“ a car that has low CO2 emissions ” has the same meaning as in section 104AA of CAA 2001 (special rate expenditure: main rate car);
“ electrically propelled ” has the meaning given in section 268B of that Act. ]
(2)In section 56 “a qualifying hire car F8...” means a car F8... which—
(a)is hired under a hire-purchase agreement (see subsection (3)) under which there is no option to purchase,
(b)is hired under a hire-purchase agreement under which there is an option to purchase exercisable on the payment of a sum equal to not more than 1% of the retail price of the car F8... when new, or
F9(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F10(d) is leased under a long-funding lease (within the meaning of section 70G of CAA 2001). ]
(3)For this purpose “hire-purchase agreement” means an agreement under which—
(a)goods are bailed (or in Scotland hired) in return for periodical payments by the person to whom they are bailed or hired, and
(b)the property in the goods will pass to that person if the terms of the agreement are complied with and one or more of the following events occurs,
but does not include a conditional sale agreement (see subsection (5)).
(4)The events are—
(a)the exercise of an option to purchase by that person,
(b)the doing of any other specified act by any party to the agreement, and
(c)the happening of any other specified event.
(5)A “conditional sale agreement” means an agreement for the sale of goods under which—
(a)the purchase price or part of it is payable by instalments, and
(b)the goods are to remain the property of the seller (even though they are to be in the possession of the buyer) until specified conditions as to the payment of instalments or otherwise are met.
(6)In this section F11... “new” means unused and not second-hand.
Textual Amendments
F1Words in s. 57 omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 48(6)
F2Words in s. 57(1) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 48(2)(a)
F3Word in s. 57(1) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 48(2)(b)
F4S. 57(1)(za) inserted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by Finance Act 2009 (c. 10), Sch. 11 para. 48(2)(c)
F5Words in s. 57(1)(a) inserted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by Finance Act 2009 (c. 10), Sch. 11 para. 48(2)(d)
F6Words in s. 57(1)(b) inserted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by Finance Act 2009 (c. 10), Sch. 11 para. 48(2)(d)
F7S. 57(1A) inserted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by Finance Act 2009 (c. 10), Sch. 11 para. 48(3)
F8Words in s. 57(2) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 48(4)(a)
F9S. 57(2)(c) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 48(4)(b)
F10S. 57(2)(d) inserted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by Finance Act 2009 (c. 10), Sch. 11 para. 48(4)(c)
F11Words in s. 57(6) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 48(5)