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Credit Contracts and Consumer Finance Act 2003

Enforcement and remedies - Defence

107: Relevance of compliance programme

You could also call this:

"What happens if you make a mistake but have a good plan in place?"

Illustration for Credit Contracts and Consumer Finance Act 2003

When you are in court for breaking a rule, the court looks at whether you made a reasonable mistake. You had to have a good compliance programme in place for the court to consider this. The court takes this into account when deciding what to do.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM213191.

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106: Reasonable mistake defence, or

"You can say it was a reasonable mistake if you fix it and pay for any harm caused."

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Part 4Enforcement and remedies
Defence

107Relevance of compliance programme

  1. The court must, in determining whether the breach is due to a reasonable mistake, take into account whether the person had in place an appropriate compliance programme.

Notes
  • Section 107: amended, on , by section 42 of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).