Victorian Consolidated Legislation

Credit Act 1984 - SECT 12

Tied contracts

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.