(1) Where the hirer exercises the right to terminate a hire-purchase agreement under section 73B(3), the short-term right to terminate a hire-purchase agreement under section 73I(1)(a) or the final right to terminate a hire-purchase agreement under section 73L(2)(b), the hirer shall -
(a) do so by means of a statement to the owner expressing the decision to terminate the hire-purchase agreement, and
(b) return any goods or materials delivered under the hire-purchase agreement to the owner at the owner's expense.
(2) A hirer who fails to comply with the obligation to return any goods or materials in accordance with subsection (1) shall be liable in damages for any loss or damage suffered by the owner as a result of that failure.