Credit Contracts and Consumer Finance Act 2003

Enforcement and remedies - Application of Commerce Act 1986 and provisions relating to Commerce Commission

111: Role and functions of Commission under this Act

You could also call this:

"The Commission's job is to make sure people follow the credit and finance rules."

Illustration for Credit Contracts and Consumer Finance Act 2003

The Commission's role is to promote compliance with the Credit Contracts and Consumer Finance Act. You can think of the Commission as a watchdog that makes sure people follow the rules. The Commission does this by monitoring trade practices and the conduct of creditors. The Commission has several jobs, including monitoring markets and creditors, issuing infringement notices, and taking prosecutions. They also take civil proceedings under the Act, including proceedings under Part 5 and exercise powers in Part 5A. The Commission provides information to help consumers, creditors, and others understand the Act. The Commission does not have to take action against every person who breaks the rules. They make information available to guide you and others on how to follow the rules. This helps promote compliance with the Credit Contracts and Consumer Finance Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM213197.

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

Topics:

Money and consumer rights > Consumer protection

110: Costs, or

"Paying costs when there's a problem with a credit contract"

112: Commission's rights to appear and adduce evidence, or

"The Commission can go to court and give evidence."

Part 4Enforcement and remedies
Application of Commerce Act 1986 and provisions relating to Commerce Commission

111Role and functions of Commission under this Act

The role of the Commission under this Act is to promote compliance with this Act.
The functions of the Commission, in relation to this Act, are to—
monitor trade practices in credit markets, consumer lease markets, and buy-back transaction markets; and
monitor the conduct of creditors and creditors' agents in the exercise of their rights under Part 3A and under the relevant credit contract; and
issue infringement notices for infringement offences; and
take prosecutions in relation to breaches of this Act; and
take civil proceedings under this Act (including proceedings under Part 5); and
exercise the powers in Part 5A (certification); and
make available appropriate information for the guidance of consumers, creditors, debtors, lessors, transferees, and other interested persons in relation to promoting compliance with this Act.

Nothing in this Act imposes on the Commission any duty or obligation to take any proceedings under this Act or to exercise any power conferred by this Act in respect of any particular person.

Notes

Section 111(2)(ab): inserted, on 6 June 2015, by section 72(1) of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).
Section 111(2)(ac): inserted, on 6 June 2015, by section 72(1) of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).
Section 111(2)(ca): inserted, on 1 June 2021, by section 45 of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).
Section 111(2)(d): amended, on 6 June 2015, by section 72(2) of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).