Credit Contracts and Consumer Finance Act 2003

119 Collateral contracts and linked transactions

(1)

If a security interest or guarantee is or may be taken in connection with a credit contract, consumer lease, or buy-back transaction, the contract or arrangement that creates or provides for the security interest or guarantee is to be treated as forming part of the credit contract, lease, or transaction for the purposes of this Part.

(2)

If it is a term of a credit contract that another contract or arrangement be entered into, any part of that other contract or arrangement that relates to the provision of credit to, or the payment of money by, a debtor under the credit contract is to be treated as forming part of the credit contract for the purposes of this Part.

(3)

If it is a term of a consumer lease or buy-back transaction that another contract or arrangement be entered into, any part of that other contract or arrangement that relates to the payment of money by a lessee under the consumer lease or by an occupier under a buy-back transaction is to be treated as forming part of the consumer lease or transaction for the purposes of this Part.

Section 119(1): amended, on 6 June 2015, by section 73 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).