Investor Presentaiton
No. 46 of 2012
Consumer Protection
[Rev. 2016]
"consumer agreement” means an agreement between a supplier and a
consumer in which the supplier agrees to supply goods or services for payment;
"consumer report" means a written, oral or other communication of credit
information or personal information, or both, pertaining to a consumer;
"consumer transaction" means any act or instance of conducting business
or other dealings with a consumer, including a consumer agreement;
"cost of borrowing" means all amounts that a borrower is required to pay
under or as a condition of entering into a credit agreement other than―
(a)
a payment or repayment of a portion of the principal under the
agreement as prescribed; and
(b) prescribed charges;
"credit agreement" means a consumer agreement under which a lender
extends credit or lends money to a borrower and includes a supplier credit
agreement and a prospective consumer agreement under which an extension
of credit, loan of money or supplier credit agreement may occur in the future,
but does not include an agreement under which a lender extends credit or lends
money on the security of a mortgage of real property or consumer agreements
of a prescribed type;
"credit card" means a card or device under which a borrower can obtain
advances under a credit agreement, as defined in Part VII, for open credit;
"credit information" means information about a consumer as to name,
age, occupation, place of residence, previous places of residence, marital
status, spouse's name and age, number of dependants, particulars of education
or professional qualifications, places of employment, previous places of
employment, estimated income, paying habits, outstanding debt obligations,
cost of living obligations and assets;
"credit repair" means services or goods that are intended to improve a
consumer report, credit information, file or personal information, including a
credit record, credit history or credit rating;
"credit repairer" means—
(a)
a supplier of credit repair; or
(b)
a person who holds himself out as a person described in clause
(a);
"default charge" means a charge imposed on a borrower who does not
make a payment as it comes due under a credit agreement or who does not
comply with any other obligation under a credit agreement, but does not include
interest on an overdue payment;
"direct agreement” means a consumer agreement that is negotiated or
concluded in person at a place other than―
(a)
at the supplier's place of business; or
(b) at a market place, an auction, trade fair, agricultural fair or
exhibition;
"estimate" means an estimate of the total cost of work on and repairs to
the goods being repaired;
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