73X.—(1) A commercial guarantee shall not—

(a) in any way exclude or limit the rights of the hirer under any enactment or rule of law,

(b) impose obligations on the hirer that are additional to his or her obligations under the hire-purchase agreement, or

(c) purport to make the guarantor or any person acting on his or her behalf the sole authority to decide whether goods conform to the hire-purchase agreement or whether the hirer is otherwise entitled to make a claim under the commercial guarantee.

(2) Any provision of a commercial guarantee that is contrary to subsection (1) shall not be binding on the hirer.

(3) A guarantor who gives a commercial guarantee which contravenes subsection (1) commits an offence.]