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Credit Contracts and Consumer Finance Act 2003

Enforcement and remedies - Orders, injunctions, and prohibited enforcement - Prohibited enforcement

99A: Enforcement of rights of repossession, etc, prohibited

You could also call this:

"Creditors can't take goods back if they didn't follow the rules."

Illustration for Credit Contracts and Consumer Finance Act 2003

If you are a creditor and you have not followed the notice rules under section 83G or 83V, you cannot enforce your rights under Part 3A until you give notice. You must comply with these rules before you can take action. This applies to your rights to repossess goods, for example.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6503342.

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Topics:
Money and consumer rights > Consumer protectionMoney and consumer rights > Banking and loans
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99: Enforcement of consumer credit contract prohibited, or

"Lenders can't make you pay if they don't give you the right information."

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99B: Enforcement prohibited if creditor unregistered, or

"You can't make someone pay if you're not a registered lender."

Part 4Enforcement and remedies
Orders, injunctions, and prohibited enforcement: Prohibited enforcement

99AEnforcement of rights of repossession, etc, prohibited

  1. If the notice requirements under section 83G or 83V, as the case may be, have not been complied with, no creditor that fails to so comply may, before a notice is given, enforce any rights that the creditor otherwise has under Part 3A.

Notes
  • Section 99A: inserted, on , by section 65 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).