Credit Contracts and Consumer Finance Act 2003

Consumer credit contracts - Required disclosure - Initial disclosure

17: Initial disclosure

You could also call this:

"What you need to know before signing a credit contract"

Illustration for Credit Contracts and Consumer Finance Act 2003

When you enter a consumer credit contract, the creditor must tell you key information before you sign. This information is set out in the Schedule 1. The creditor must also give you a copy of the contract terms not already disclosed. The creditor must give you a copy of all the terms of the contract, except those implied by law, before you enter the contract. They must give you this copy in the same way that disclosure is made under section 35. You should receive this information before you sign the contract. The creditor has to follow these rules to ensure you have all the necessary information before entering the contract.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM212757.

This page was last updated on 1 January 2026 — View changes

Topics:

Money and consumer rights > Consumer protection

16A: Mobile trader credit sales treated as consumer credit contract, or

"Buying from a mobile trader and paying later is like getting a loan and has the same rules"

18: Continuing disclosure, or

"Getting regular updates on your credit contract"

Part 2Consumer credit contracts
Required disclosure: Initial disclosure

17Initial disclosure

Every creditor under a consumer credit contract must ensure that disclosure of as much of the key information set out in Schedule 1 as is applicable to the contract is made to every debtor under the contract before the contract is entered into.
Every creditor under a consumer credit contract must ensure that a copy of all of the terms of the contract not disclosed under subsection (1) (other than terms implied by law) is given or sent to every debtor under the contract before the contract is entered into.

For the purposes of subsection (2), the copy of the terms of the contract must be given or sent in the same manner that disclosure is made under section 35.

Compare

s 16

Notes

Section 17(1): replaced, on 6 June 2015, by section 15(1) of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).
Section 17(2): amended, on 6 June 2015, by section 15(2) of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).
Section 17(2)(a): repealed, on 6 June 2015, by section 15(3) of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).
Section 17(2)(b): repealed, on 6 June 2015, by section 15(3) of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).