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Credit Contracts and Consumer Finance Act 2003

Miscellaneous provisions - Declarations about credit contracts and consumer credit contracts

137C: General provisions about all declarations

You could also call this:

"Rules for Making Declarations About Consumer Credit Contracts"

Illustration for Credit Contracts and Consumer Finance Act 2003

You can make a declaration under section 137A or 137B with some conditions. These conditions can be about who the declaration applies to or when it applies. You can also have conditions about transitional matters. If you make a declaration, it does not stop someone from getting an exemption under section 138. This exemption can apply to something that is part of your declaration. If you do not consult people as required by section 137A or 137B, your declaration is still valid. But if you declare something is a consumer credit contract under section 137A, this declaration is more important than something that says the opposite in section 15.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS301511.

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Topics:
Money and consumer rights > Consumer protection
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Part 6Miscellaneous provisions
Declarations about credit contracts and consumer credit contracts

137CGeneral provisions about all declarations

  1. A declaration under section 137A or 137B may be made subject to terms and conditions, including (without limitation) terms and conditions relating to—

  2. the circumstances in which the declaration applies, whether by reference to any persons, arrangements, or facilities, or any other circumstances:
    1. transitional matters.

      1. Nothing in this section prevents the granting of an exemption under section 138 that applies to a matter that is the subject of a declaration.

      2. A failure to consult as required by section 137A or 137B does not affect the validity of a declaration.

      3. A declaration under section 137A that something is a consumer credit contract prevails over a statement to the contrary in section 15.

      Notes
      • Section 137C: inserted, on , by section 52 of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).