Financial Sector Reform Act 2022 (87 of 2022)

Schedule 4   Consumer credit reforms

Part 5   Consumer leases for indefinite terms

National Consumer Credit Protection Act 2009

65   After subsection 171(1) of the National Credit Code

Insert:

Leases for an indefinite period

(1A) This Part does not apply to a consumer lease for an indefinite period unless:

(a) the lessor is a constitutional corporation at the time that the lease is entered into; or

(b) the lease was entered into in the course of constitutional trade and commerce; or

(c) the lease was entered into using postal, telegraphic, telephonic or other like services (within the meaning of paragraph 51(v) of the Constitution).