New South Wales Consolidated Acts

CREDIT ACT 1984 - SECT 12

12 Tied contracts

(1) For the purposes of this Act, a loan contract is a tied loan contract where the credit provider enters into the loan contract with a person who is a buyer of goods or services supplied by a supplier and:

(a) the credit provider knows or ought reasonably to know that the buyer enters into the loan contract wholly or partly for the purposes of payment for the goods or services, and

(b) at the time the loan contract is entered into the credit provider is a linked credit provider of the supplier.

(2) For the purposes of this Act, a continuing credit contract is a tied continuing credit contract where the credit provider provides credit under the continuing credit contract in respect of the payment by the debtor for goods or services supplied by a supplier in relation to whom the credit provider is a linked credit provider.