REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2007 No. 29 - SECT 13 13 Amendment of s 145 (Insertion of new ch 5A of Act No. 29 of 2003)

REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2007 No. 29 - SECT 13

Section 145, after inserted section 270ZJ--

insert--

'To remove any doubt, it is declared that, subject to section 270ZJB, an industry code does not limit or otherwise affect the operation of the Fair Trading Act 1989.

'(1) This section applies if--

(a) a retailer enters into, or proposes to enter into, a negotiated retail contract with a small customer; and

(b) the contract is, or would if entered into be, a prescribed contract under the Fair Trading Act 1989 (FTA), part 3, division 4; and

(c) an industry code applies to the contract.

'(2) The contract is taken to include the statement required under FTA, section 61(1)(f) (paragraph (f)) if a statement included in the contract as otherwise required under paragraph (f) states the cooling-off period that the industry code requires for the contract instead of the cooling-off period mentioned in paragraph (f).

Note--

See clause 4.3 (Cooling-off) of the initial industry code commencing on the FRC day.

'(3) The notices required to be given under FTA, section 61(1)(g) (paragraph (g)) are taken to have been given, and the requirements for the notices stated in FTA, section 61(1)(h) to (j) are taken to be complied with, if--

(a) the customer is given a notice (the substitute notice) by or for the retailer in relation to the entering into of the contract, as required under the industry code; and

(b) the substitute notice complies with--

(i) all requirements under the industry code about explaining the customer's right to rescind the contract; and

Note--

See clause 5.6 (Written disclosure statement) of the initial industry code commencing on the FRC day.

(ii) the requirements for a notice or notices, stated in FTA, section 61(1)(h)(i) and (ii), (i) and (j); and

(c) the substitute notice gives all information that--

(i) is required to be given under the approved forms of notice under paragraph (g); and

(ii) is relevant to the goods and services to be provided under the contract.

'(4) The substitute notice need not comply with FTA, s 61(1)(h)(iii).'.