Section 40: Option of hirer to purchase machinery seized for default

(1) If the machinery is seized and taken away under section 39, the hirer shall have the option to be exercised within one month after such a seizure or such longerperiod as may be allowed by the Director in this behalf, of purchasing the same by payment to the Director, of the unpaid balance of the cost thereof together with such other amount as may be due, and the cost of, and expenses incidental to, such seizure and removal.

(2) If, within the period specified in sub-section (I), the hirer does not exercise the option of purchase, the Director shall proceed to dispose of the machinery.