143Continuing application of Credit Contracts Act 1981 and Hire Purchase Act 1971

1. If this Act does not apply to a credit contract, hire purchase agreement, or guarantee made before the commencement of this section, or to any act, omission, right, interest, title, immunity, or duty in connection with that contract, agreement, or guarantee, then the Credit Contracts Act 1981 and the Hire Purchase Act 1971 continue to apply to the contract, agreement, or guarantee or to the act, omission, right, interest, title, immunity, or duty as if they were still in force.

2. For the purposes of subsection (1), Part 2 of Schedule 1 of the Disputes Tribunal Act 1988 is to be read as if it includes references to the Credit Contracts Act 1981 and the Hire Purchase Act 1971.

3. The references in subsection (1) to the Credit Contracts Act 1981 and the Hire Purchase Act 1971 are references to those Acts as in force immediately before the commencement of this section, except that references in section 45A of the Credit Contracts Act 1981 and section 47A of the Hire Purchase Act 1971 to $7,500 and $12,000 must be treated as references to $15,000 and $20,000 respectively.

4. In this section,—

   credit contract has the same meaning as in the Credit Contracts Act 1981 (as in force immediately before the commencement of this section)

   hire purchase agreement has the same meaning as in the Hire Purchase Act 1971 (as in force immediately before the commencement of this section).