Credit Contracts and Consumer Finance Act 2003
Sections and provisions with full text and the judgments that cite each one.
Section 95 — Miscellaneous provisions concerning Court's general power to make orders
95 Miscellaneous provisions concerning Court's general power to make orders (1) An order under section 93 may be made on the application of the Commission or any party to a consumer credit contract,…
Section 96 — Injunctions
96 Injunctions (1) The Court may, on the application of the Commission or any other person, grant an injunction restraining a person from engaging in conduct that constitutes, or would constitute,…
Section 97 — Injunctions restraining conduct of particular kind
97 Injunctions restraining conduct of particular kind (1) This section applies if an application is made to the Court for the grant of an injunction under section 96 restraining a person from…
Section 98 — Interim injunction
98 Interim injunction (1) This section applies if an application is made to the Court for the grant of an interim injunction under section 96 restraining a person from engaging in conduct of a…
Section 99 — Enforcement of consumer credit contract prohibited
99 Enforcement of consumer credit contract prohibited (1) If disclosure is required under section 17 or section 22 , no person (other than a debtor under the consumer credit contract) may, before…
Section 100 — Enforcement of guarantee prohibited
100 Enforcement of guarantee prohibited (1) If disclosure is required to be made under section 25 or section 26 , no person may enforce the guarantee before disclosure is made. (2) Failure to comply…
Section 101 — Enforcement of consumer lease prohibited
101 Enforcement of consumer lease prohibited If disclosure is required under section 64 or section 65 , no person (other than a lessee under the consumer lease) may, before that disclosure is made,—…
Section 102 — Enforcement of buy-back transaction prohibited
102 Enforcement of buy-back transaction prohibited If disclosure is required under section 72 or section 77 , no person (other than an occupier under the buy-back transaction) may, before that…
Section 103 — Offences
103 Offences (1) Every creditor, lessor, transferee, or buy-back promoter who breaches any of the provisions of sections 17 to 69 , 71 to 74 , and 76 to 82 commits an offence and is liable on summary…
Section 104 — Conviction for 2 or more offences
104 Conviction for 2 or more offences If a person is convicted, whether in the same or separate proceedings, of 2 or more offences in respect of breaches of the same provisions of this Act and those…
Section 105 — When proceedings may be commenced
105 When proceedings may be commenced (1) Proceedings under section 103 may be commenced at any time within 3 years after the matter giving rise to the breach arose. (2) This section applies despite…
Section 106 — Reasonable mistake defence
106 Reasonable mistake defence (1) Every person has a defence to a claim for statutory damages under section 88 or a prosecution under section 103(1) , in connection with a breach of this Act, if the…
Section 107 — Relevance of compliance programme
107 Relevance of compliance programme The Court must, in determining whether the breach is due to a reasonable mistake, take into account whether the person has in place an appropriate compliance…
Section 108 — Power to order certain persons not to act as creditors, lessors, transferees, or buy-back promoters
108 Power to order certain persons not to act as creditors, lessors, transferees, or buy-back promoters (1) A District Court may make an order prohibiting or restricting a person from doing all or…
Section 109 — Who may apply and nature of order
109 Who may apply and nature of order (1) Any person (including the Commission) may apply to a District Court for an order under section 108 . (2) An order under section 108 — (a) may be for a…
Section 110 — Costs
110 Costs (1) In any proceedings under section 108 , the District Court may make an order for the payment by any party to the proceedings of the whole or any part of the full costs incurred in…
Section 111 — Role and functions of Commission under this Act
111 Role and functions of Commission under this Act (1) The role of the Commission under this Act is to promote compliance with this Act. (2) The functions of the Commission, in relation to this Act,…
Section 112 — Commission's rights to appear and adduce evidence
112 Commission's rights to appear and adduce evidence (1) The Commission may appear and be heard, in person or by a barrister or solicitor, in any proceedings brought (in whole or in part) under this…
Section 113 — Application of Commerce Act 1986
113 Application of Commerce Act 1986 The following provisions of the Commerce Act 1986 apply with all necessary modifications: (a) sections 15 to 17 (proceedings of the Commission): (b) section 90…
Section 114 — Additional proceedings
114 Additional proceedings Proceedings brought under this Act are in addition to any proceedings brought under any other Act.
Section 115 — Disposal of things seized
115 Disposal of things seized (1) In any proceedings relating to any thing seized under warrant, the Court may order, either at the trial or hearing or on an application, that the thing be delivered…
Section 116 — Court order for disposal of things seized to be suspended on conviction
116 Court order for disposal of things seized to be suspended on conviction (1) If any person is convicted in any proceedings for an offence relating to anything for which a warrant has been issued,…
Section 117 — Application of Part
117 Application of Part This Part applies to—- (a) every credit contract (whether or not it is a consumer credit contract); and (b) every consumer lease; and (c) every buy-back transaction.
Section 118 — Meaning of oppressive
118 Meaning of oppressive In this Act, oppressive means oppressive, harsh, unjustly burdensome, unconscionable, or in breach of reasonable standards of commercial practice. Compare: 1981 No 27 s 9
Section 119 — Collateral contracts and linked transactions
119 Collateral contracts and linked transactions (1) If a security interest is or may be taken in connection with a credit contract, consumer lease, or buy-back transaction, the contract or…
Section 120 — Reopening of credit contracts, consumer leases, and buy-back transactions
120 Reopening of credit contracts, consumer leases, and buy-back transactions The Court may reopen a credit contract, a consumer lease, or a buy-back transaction if, in any proceedings (whether or…
Section 121 — Refusal to agree to early termination, variation, or waiver
121 Refusal to agree to early termination, variation, or waiver If a party refuses to agree to the early termination of a credit contract, consumer lease, or buy-back transaction, or to vary or waive…
Section 122 — Reopening credit contracts involved in arrangement
122 Reopening credit contracts involved in arrangement (1) The Court may reopen all or any of the credit contracts involved in an arrangement if,— (a) with the knowledge of the creditor under a…
Section 123 — Time and circumstances relevant to reopening credit contracts, consumer leases, or buy-back transactions
123 Time and circumstances relevant to reopening credit contracts, consumer leases, or buy-back transactions A credit contract, a consumer lease, a buy-back transaction, a term of a credit contract,…
Section 124 — Guidelines for reopening credit contracts, consumer leases, and buy-back transactions
124 Guidelines for reopening credit contracts, consumer leases, and buy-back transactions In deciding whether section 120 applies and whether to reopen a credit contract, consumer lease, or buy-back…
Section 125 — When reopening proceedings may be commenced
125 When reopening proceedings may be commenced (1) Proceedings seeking the reopening of a credit contract, consumer lease, or buy-back transaction may be commenced in the Court by the Commission,…
Section 126 — Evidence
126 Evidence (1) If the Court considers reopening a credit contract, consumer lease, or buy-back transaction under section 120(a) , evidence regarding the terms on which credit was available from…
Section 127 — Power of Court on reopening credit contract, consumer lease, or buy-back transaction
127 Power of Court on reopening credit contract, consumer lease, or buy-back transaction (1) If the Court reopens a credit contract, consumer lease, or buy-back transaction, it may make any orders…
Section 128 — Costs in consumer cases
128 Costs in consumer cases (1) In any proceedings under this Part, the Court may, if it has reopened a consumer credit contract, consumer lease, or buy-back transaction, make an order for the…
Section 129 — Persons who share in profits or have beneficial interest in reopened credit contract, consumer lease, or buy-back transaction
129 Persons who share in profits or have beneficial interest in reopened credit contract, consumer lease, or buy-back transaction (1) If it appears to the Court that any person has shared in the…
Section 130 — Time of exercise of Court's powers
130 Time of exercise of Court's powers The powers of the Court may be exercised whether or not— (a) the time for performance of any term of the credit contract, consumer lease, or buy-back…
Section 131 — No limit on sections 41 , 80 , and 82
131 No limit on sections 41 , 80 , and 82 Nothing in this Part limits section 41 or section 80 or section 82 .
Section 132 — Provisions relating to assignment of credit contracts, consumer leases, or buy-back transactions
132 Provisions relating to assignment of credit contracts, consumer leases, or buy-back transactions (1) An assignee of a credit contract, a consumer lease, or a buy-back transaction from a creditor,…
Section 133 — Changes, deferrals, or postponements under credit contracts and consumer leases
133 Changes, deferrals, or postponements under credit contracts and consumer leases (1) The provision of credit as a result of a change to an existing credit contract, or a deferral of an amount…
Section 134 — Right to set-off
134 Right to set-off (1) A creditor, lessor, or transferee may set-off any entitlement of a debtor, guarantor, lessee, or occupier to statutory damages or to an amount that must be paid to a debtor,…
Section 135 — No contracting out
135 No contracting out (1) This Act has effect despite any provision to the contrary in any credit contract, guarantee, consumer lease, or buy-back transaction. (2) Every creditor, lessor, or…
Section 136 — Application of law relating to illegal contracts
136 Application of law relating to illegal contracts The fact that a credit contract, a consumer lease, or a buy-back transaction has been entered into in breach of this Act, or that an act that…
Section 137 — Conflict of laws
137 Conflict of laws This Act applies to a credit contract, guarantee, lease, or buy-back transaction if the contract, guarantee, lease, or transaction— (a) is governed by the law of New Zealand; or…
Section 138 — Regulations
138 Regulations (1) The Governor-General may, by Order in Council, make regulations for all or any of the following purposes: (a) prescribing any class of credit contract that is exempted from being…
Section 139 — Acts amended
139 Acts amended The Acts specified in Schedule 4 are amended in the manner indicated in that schedule.
Section 140 — Repeal of Credit Contracts Act 1981 and Hire Purchase Act 1971
140 Repeal of Credit Contracts Act 1981 and Hire Purchase Act 1971 The following enactments are repealed: (a) Credit Contracts Act 1981 (1981 No 27): (b) Hire Purchase Act 1971 (1971 No 147).
Section 141 — Transitional provision
141 Transitional provision (1) This Act applies to every credit contract, consumer lease, and guarantee that is made after the commencement of this subsection. (2) This Act applies to every buy-back…
Section 142 — Election for Act to apply
142 Election for Act to apply (1) A creditor under a credit contract made before the commencement of this section may, after the commencement of this section, elect that this Act apply to the credit…
Section 143 — Continuing application of Credit Contracts Act 1981 and Hire Purchase Act 1971
143 Continuing application of Credit Contracts Act 1981 and Hire Purchase Act 1971 (1) If this Act does not apply to a credit contract, hire purchase agreement, or guarantee made before the…