In this Act, unless the context otherwise requires,—
advance means—
(d) in the case of the use of a credit card to purchase property or services from a person who is not the creditor or to obtain money, the agreed price of the property or services or the monetary amount, as the case may be
annual interest rate means a rate specified in the credit contract as an annual interest rate
broker means a person who, for consideration, assists a person in obtaining credit
buy-back default fees means fees or charges payable on a breach of a buy-back transaction by an occupier or on the enforcement of a buy-back transaction by a transferee
buy-back fees means fees or charges payable by the occupier under a buy-back transaction, or payable by the occupier to, or for the benefit of, the transferee in connection with a buy-back transaction (including any insurance premiums payable if the transferee requires the occupier to obtain insurance cover from a particular insurer); but does not include the following:
buy-back promoter means a person who introduces the parties to a buy-back transaction to each other if—
buy-back transaction has the meaning set out in section 8
cash price, in relation to property sold or leased, or to services provided under a contract, means—
charge for an optional service means a fee or charge for a service or benefit that is offered to the debtor in connection with a credit contract if the debtor does not have to accept the service or benefit as a condition of entering into the contract
consumer credit contract has the meaning set out in section 11
consumer credit insurance means insurance cover in the event of the insured's disability or death or the insured contracting a sickness, sustaining an injury, or becoming unemployed, if the liability of the insurer is to be determined by reference to the liability of the insured under a credit contract or a consumer lease
consumer lease has the meaning set out in section 60
court means, in relation to any matter, the court, tribunal, or arbitral tribunal by or before which the matter falls to be determined
credit contract has the meaning set out in section 7
credit fees means fees or charges payable by the debtor under a credit contract, or payable by the debtor to, or for the benefit of, the creditor in connection with a credit contract (including any insurance premiums payable if the creditor requires the debtor to obtain insurance cover from a particular insurer); but does not include the following:
credit limit means the maximum unpaid balance permitted under the credit contract
credit-related insurance means, in connection with a credit contract or consumer lease,—
credit sale means a contract involving the sale of property or the provision of services under which payment of the whole or a part of the purchase price is deferred; and includes a lease that is to be treated as a credit sale under section 16
creditor means a person who provides, or may provide, credit under a credit contract; and, if the rights of that person are transferred by assignment or by operation of law, includes the person for the time being entitled to those rights
daily interest rate means the rate determined by dividing the annual interest rate by 365
debtor means a person to whom credit has been provided, or may be provided, under a credit contract; and, if the rights of that person are transferred by assignment or by operation of law, includes the person for the time being entitled to those rights
default fees means fees or charges payable on a breach of a credit contract by a debtor or on the enforcement of a credit contract by a creditor; but does not include default interest charges
default interest charges means additional interest charges payable on a breach of a credit contract by a debtor
electronic includes electrical, digital, magnetic, optical, electromagnetic, biometric, and photonic
electronic communication means a communication by electronic means
establishment fees means the fees or charges payable under the credit contract that relate to the costs incurred by the creditor in connection with the application for credit, processing and considering that application, documenting the contract, and advancing the credit; but does not include any fee or charge to the extent that it is a charge for an optional service
estate means a fee simple estate, a leasehold estate, or a stratum estate
extended warranty means an agreement between a creditor or lessor and a debtor or lessee under which the creditor or lessor, for an additional consideration, agrees to repair or replace defective goods outside of the warranty period that would otherwise apply
family trust means a trust that is established primarily to benefit either or both of the following:
full costs includes reasonable costs incurred between solicitor and client, fees, and other expenses
full prepayment means the payment of the unpaid balance before the last amount to be paid under the credit contract becomes payable
goods means personal chattels other than money and choses in action
guarantor, in relation to a credit contract,—
information system means a system for producing, sending, receiving, storing, displaying, or otherwise processing electronic communications
interest charge means a charge that accrues over time and is determined by applying a rate to an amount owing under a credit contract
lawyer has the meaning given to it by section 6 of the Lawyers and Conveyancers Act 2006
lease means a contract for the hire of goods
occupier has the meaning set out in section 8
paid adviser means a person who acts for consideration as an adviser to, or as a trustee, nominee, or agent of, 1 or more of the parties; but does not include a person who is an employee of 1 or more of the parties
part prepayment means the payment of an amount that is less than the unpaid balance before that amount is payable under the credit contract
payment, in relation to a credit sale, includes a deposit or a trade-in allowance
property means land, money, goods, choses in action, goodwill, and every valuable thing, whether real or personal, and whether situated in New Zealand or elsewhere
regulations means regulations in force under this Act
related company has the same meaning as in section 2(3) of the Companies Act 1993
repayment waiver means an agreement between a creditor or lessor and a debtor or lessee under which the creditor or lessor, for an additional consideration, agrees to waive the creditor's or lessor's right to any amount payable under the credit contract or consumer lease in the event of the unemployment of, sickness of, injury to, or the disability or death of the debtor or lessee
revolving credit contract means a credit contract, whether or not the contract specifies a credit limit, if the contract—
security interest means an interest in property created or provided for by a transaction that, in substance, secures payment or performance of an obligation under a credit contract, consumer lease, or buy-back transaction, without regard to—
transferee has the meaning set out in section 8
unpaid balance means the amount owing under a credit contract at a particular time, being the difference between all amounts credited and all amounts debited to the debtor under the contract at that time
unpaid daily balance, in relation to a day, means the unpaid balance under a credit contract at the end of that day
working day means a day of the week other than—
(a) a Saturday, a Sunday, Waitangi Day, Good Friday, Easter Monday, Anzac Day, the Sovereign's birthday, and Labour Day; and