Credit (Repossession) Act 1997

  • repealed
  • Credit (Repossession) Act 1997: repealed, on 6 June 2015, by section 82 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).

Reprint as at 6 June 2015

Coat of Arms of New Zealand

Credit (Repossession) Act 1997

Public Act
1997 No 85
Date of assent
14 November 1997
see section 1(2)

Credit (Repossession) Act 1997: repealed, on 6 June 2015, by section 82 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).


Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Ministry of Business, Innovation, and Employment.


1Short Title and commencement
3Act binds the Crown
4Purpose of this Act
5Security agreements to which Act applies
6Act applies where creditor already has right to take possession, etc
7Circumstances in which creditor can take possession
8Notice to be given to debtor and guarantor before taking possession of consumer goods
9Form of pre-possession notice
10Creditor must allow time to remedy default
11Offences against this Part
12Debtor may apply to court for relief
13Court may grant relief
14Creditor must not enter premises in unreasonable manner
15Creditor must not enter residential premises at prohibited time
16Certain persons disqualified from taking possession of consumer goods
17Documents to be produced on entry
18Entry if occupier not present
19Offence to obstruct taking possession of consumer goods
19BCreditor must not damage consumer goods when removing accession
19CPerson with interest in other goods entitled to reimbursement for damage caused by removal of accession
19DPerson entitled to reimbursement may refuse permission to remove accession
19ESecured party may apply to court for order in respect of removal of accession
19FSecured party must give notice of removal of accession
19GWhen person with interest in whole may retain accession
19HCourt may make order concerning removal of accession
20Notice to be given to debtor and guarantor after taking possession of consumer goods
21Form of post-possession notice
21ANotice of sale of consumer goods to other creditors
22Consequences of not giving post-possession notice
23Creditor must not sell consumer goods until 15 days after post-possession notice
24Consequences of selling within 15 days of post-possession notice
25Creditor must sell consumer goods 15 days after post-possession notice
26Rules relating to sale by creditor
27Debtor may obtain valuation of consumer goods before sale
28Debtor’s right to reinstate agreement
29Consequences of reinstating agreement
30Debtor’s right to introduce buyer
31Debtor’s right to settle agreement
32Debtor’s right to force sale
32ADisposal of consumer goods to purchaser for value and in good faith
32BExtinguishment of subordinate security interests on sale
33Creditor to give statement of account to debtor
34Distribution of surplus
34ASurplus may be paid into court
34BDebtor’s, etc, right to recover surplus
35Limit on creditor’s right to recover from debtor
36Court may vary existing judgments or orders when consumer goods are repossessed
36AVoluntary return of goods
36BVarious effects of voluntary return of goods
37Power of court to extend times
38Service of notices
39Jurisdiction of District Courts
40Jurisdiction of Disputes Tribunals
41Time for filing charging document
42No contracting out
43Application of law relating to illegal contracts
44Power to amend forms
45Amendments to Chattels Transfer Act 1924 [Repealed]
46Amendment to Insolvency Act 1967
47Amendments to Hire Purchase Act 1971 [Repealed]
48Amendment to Credit Contracts Act 1981 [Repealed]
49Amendment to Disputes Tribunals Act 1988
50Amendments to Income Tax Act 1994 [Repealed]
51Transitional provision relating to existing hire purchase agreements
Reprint notes

An Act to govern the taking of possession of consumer goods by a creditor under a security agreement

Title: substituted, on 1 May 2002, by section 2 of the Credit (Repossession) Amendment Act 1999 (1999 No 127).