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Credit Contracts and Consumer Finance Act 2003

Enforcement and remedies - Preliminary provisions

84: Compliance programmes

You could also call this:

"Following rules to obey the law"

Illustration for Credit Contracts and Consumer Finance Act 2003

You have a compliance programme if you make your employees and agents follow rules to obey this Act. You also need to find ways to check if your programme is working well. You must fix any problems you find with your programme.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM213159.

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Part 4Enforcement and remedies
Preliminary provisions

84Compliance programmes

  1. For the purposes of this Part, a creditor or lessor has a compliance programme if the creditor or lessor—

  2. requires its employees and agents to follow procedures, or has implemented automated procedures, that are designed to ensure compliance with this Act and the regulations; and
    1. ensures that there are in place methods for systematically identifying deficiencies in the effectiveness of the programme; and
      1. promptly remedies any deficiencies discovered.