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Credit Contracts and Consumer Finance Act 2003

Consumer credit contracts - Application

12: Investment purposes

You could also call this:

"Borrowing money to try to make more money, not for everyday things."

Illustration for Credit Contracts and Consumer Finance Act 2003

When you borrow money, it is not for personal use if you are investing it. You are investing when you use the money to try to make more money. This is not for things like buying food or paying bills at home.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM212750.

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Topics:
Money and consumer rights > Banking and loans
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11: Meaning of consumer credit contract, or

"What is a consumer credit contract?"

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13: Presumption relating to consumer credit contract, or

"Assuming a credit contract is for personal use until proven otherwise"

Part 2Consumer credit contracts
Application

12Investment purposes

  1. Investment by the debtor is not a personal, domestic, or household purpose.