Plain language law

New Zealand law explained for everyone

Credit Contracts and Consumer Finance Act 2003

Consumer leases, credit-related insurance, and buy-back transactions of land - Consumer leases

62: Declaration concerning consumer lease

You could also call this:

"Telling the owner you're hiring goods for business, not personal use"

Illustration for Credit Contracts and Consumer Finance Act 2003

You can say a lease is not a consumer lease if you tell the owner you are hiring the goods wholly or predominantly for business purposes before you agree to the lease. The owner must not know or have reason to believe the goods are actually for personal use when you make this statement. You must write this down in a separate document and confirm you have read and understood it for the statement to be effective.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM213129.

This page was last updated on — View changes

Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
Previous

61: Presumption relating to consumer lease, or

"What happens when you say a lease is for personal use in court"

Next

63: Application of disclosure provisions, or

"What info must be shared with you when leasing something"

Part 3Consumer leases, credit-related insurance, and buy-back transactions of land
Consumer leases

62Declaration concerning consumer lease

  1. A lease is not a consumer lease if the lessee makes a declaration before entering into the lease that the goods are hired wholly or predominantly for business purposes.

  2. Subsection (1) does not apply if the lessor, or the person who obtains the declaration, knew, or had reason to believe, at the time the declaration was made that the goods were in fact hired wholly or predominantly for personal, domestic, or household purposes.

  3. A declaration is effective only if the declaration is in a separate written document and the lessee confirms that he or she has read and understood the declaration.

Notes
  • Section 62(1): amended, on , by section 43 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).
  • Section 62(2): amended, on , by section 43 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).