(1) For the purposes of this Act, a lease is a consumer lease if—
(a) the lessee is a natural person; and
(b) the lessee enters into the lease primarily for personal, domestic, or household purposes; and
(c) when the lease is entered into, the lessor, or one of the lessors, carries on the business of leasing goods (whether or not the business is the lessor's only business or the lessor's principal business), or makes a practice of leasing goods in the course of a business carried on by the lessor; and
(d) when the lease is entered into, 1 or more of the following applies:
(i) the term of the lease is for 1 year or more:
(ii) the lessee has an option to purchase the goods.
(2) However, a lease that is to be treated as a consumer credit contract under section 16 is not a consumer lease.
(3) If, because of any contract or contracts (none of which by itself constitutes a consumer lease) or any arrangement, there is a transaction that is in substance or effect a consumer lease, the contract, contracts, or arrangement must, for the purposes of this Act, be treated as a consumer lease made at the time when the contract, or the last of those contracts, or the arrangement, was made, as the case may be.
(4) This section is subject to section 62.
Compare: Consumer Credit Code (Appendix to Consumer Credit (Queensland) Act 1994) s 148(1) (Qld)