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Credit Contracts and Consumer Finance Act 2003

Consumer credit contracts - Disclosure standards and how disclosure is made

34: Creditor, etc, may voluntarily use model disclosure statement if not required to use mandatory form

You could also call this:

"You can choose to use a model disclosure statement even if you don't have to."

Illustration for Credit Contracts and Consumer Finance Act 2003

You can use a model disclosure statement even if you are not required to. If you use it as the regulations say, you will be treated as having done what sections 32(1)(a), (c), and (d) require. You can find more about this in section 32(1)(ba) and section 32(1)(a), (c), and (d).

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM212779.

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Topics:
Money and consumer rights > Consumer protection
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33: Assumptions, or

"Rules for sharing important information about your credit contract"

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35: How disclosure is made, or

"How lenders give you important information about your loan"

Part 2Consumer credit contracts
Disclosure standards and how disclosure is made

34Creditor, etc, may voluntarily use model disclosure statement if not required to use mandatory form

  1. This section applies if a person is not required to use a form prescribed for the purposes of section 32(1)(ba).

  2. If the person uses a model disclosure statement prescribed by regulations for the purposes of this section in the manner required by those regulations, the person is to be treated as having complied with the requirements of section 32(1)(a), (c), and (d).

Notes
  • Section 34: replaced, on , by section 27 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).