(1) Where a hirer terminates a hire-purchase agreement in accordance with section 73N, any ancillary contract is terminated without any cost to the hirer.
(2) Where an owner is informed by a hirer in accordance with section 73N(1)(a) of the hirer's decision to terminate a hire-purchase agreement, the owner shall inform any trader with whom the hirer has an ancillary contract that the contract with that trader has been terminated by subsection (1).
(3) Where an ancillary contract is terminated by subsection (1) -
(a) the owner or trader with whom the hirer has that contract shall comply with the obligations in section 73O, and
(b) the hirer shall comply with the obligation in section 73N(1)(b).
(4) Where any security has been provided under an ancillary contract that is terminated by subsection (1), it is to be treated as never having had effect and any property lodged with the owner or trader solely for the purposes of that security shall be returned immediately by the owner or trader.
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