§ 8 — Meanings of “acquire”, “transfer” and associated terms

8.—(1) In this Act, unless the context otherwise requires —“acquire”, in relation to an object or a thing, means —(a)

to buy (by wholesale or retail) the object or thing; or

(b)

to accept or receive a supply or transfer of the object or thing;

“transfer” means to transfer ownership or possession, by gift, lending or supply.

(2) For the purposes of this Act, a person takes part in the acquisition or transfer of an object or a thing if the person takes, or participates in, any step, or causes any step to be taken, in the process of that acquisition or transfer, as the case may be.

(3) For the purposes of this Act, a person who takes possession of an object or a thing under a hire‑purchase agreement is taken to have acquired the object or thing, and the person who possessed the object or thing immediately before parting with possession is taken to have supplied it.

(4) Despite subsection (2) but subject to subsection (3), a person is not treated as taking part in the acquisition or transfer of any object or thing by reason only that the person provided financing for any step taken in the process of acquiring or transferring the object or thing.

—(1) In this Act, unless the context otherwise requires —“acquire”, in relation to an object or a thing, means —(a)

to buy (by wholesale or retail) the object or thing; or

(b)

to accept or receive a supply or transfer of the object or thing;

“transfer” means to transfer ownership or possession, by gift, lending or supply.

(2) For the purposes of this Act, a person takes part in the acquisition or transfer of an object or a thing if the person takes, or participates in, any step, or causes any step to be taken, in the process of that acquisition or transfer, as the case may be.

(3) For the purposes of this Act, a person who takes possession of an object or a thing under a hire‑purchase agreement is taken to have acquired the object or thing, and the person who possessed the object or thing immediately before parting with possession is taken to have supplied it.

(4) Despite subsection (2) but subject to subsection (3), a person is not treated as taking part in the acquisition or transfer of any object or thing by reason only that the person provided financing for any step taken in the process of acquiring or transferring the object or thing.