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The strangely named Credit (Repossession) Act () regulates repossessions in New Zealand. This Act replaced the limited repossession sections in the Hire Purchase Act () 〔Section 47, Credit (Repossession) Act ()〕 (now repealed). The Act outlines the rights of the debtor, the steps required for repossession, the creditors right of entry, as well as steps the creditor must take once they have repossessed goods. When the Act was passed, it gave protection to all goods subject to a hire purchase agreement, but it was amended in 1999〔Section 3(1), Credit (Repossession) Amendment Act ()〕 to limit its protection to only the purchase of consumer goods. == Steps required for repossession == Part 2 of the Act details what steps a creditor must first do before they can lawfully repossess goods, with the main criteria is that the debtor must be in default under the security agreement 〔Section 7(1)a, Credit (Repossession) Act ()〕 normally for non payment). If the debtor is in default, the creditor must then give Notice to the debtor of the default,〔Section 8(1), Credit (Repossession) Act ()〕 which is in the form of what is called a Pre Possession Notice.〔Section 9, Credit (Repossession) Act ()〕 And finally, the creditor must allow the debtor time to remedy the default, which can not be a period of less than 15 days from the date the Pre Possession Notice was served on the debtor.〔Section 9(1)b, Credit (Repossession) Act ()〕 If the creditor breaches any of these rules, they risk a fine of up to $3,000.〔Section 11, Credit (Repossession) Act ()〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Credit (Repossession) Act 1997」の詳細全文を読む スポンサード リンク
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