Plain language law

New Zealand law explained for everyone

Credit Contracts and Consumer Finance Act 2003

Repossession of consumer goods under consumer credit contract - Rules that apply after repossession of consumer goods

83U: Interpretation

You could also call this:

"What special words mean in this law"

Illustration for Credit Contracts and Consumer Finance Act 2003

In this part of the law, when you see the word auction, it means a process where goods are sold to the person who bids the highest price. You can think of it like a sale where people bid on goods and everyone can see the latest bid. The law uses this meaning unless it clearly means something else.

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 It might be out of date or be missing some parts.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=DLM6501381.

This page was last updated on — View changes

Topics:
Money and consumer rights > Consumer protection
Previous

83T: Restrictions applying in relation to persons repossessing consumer goods, or

"Rules for taking back goods from someone who can't pay"

Next

83V: Notice to be given to debtor, guarantor, and other creditors after repossession of consumer goods, or

"Getting a notice after your things are taken back"

Part 3ARepossession of consumer goods under consumer credit contract
Rules that apply after repossession of consumer goods

83UInterpretation

  1. In this subpart, unless the context otherwise requires, auction means a process in which goods are offered for sale by auction or by any other bidding process in which the most recent bid made for the goods is disclosed to other participants and potential participants.

Notes
  • Section 83U: inserted, on , by section 51 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).