Schedule 2, section 96 - Competition and Consumer Act 2010 - Lay-by agreements must be in writing etc.

Sch 2 s 96Lay-by agreements must be in writing etc.

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96 Lay‑by agreements must be in writing etc.

(1) A supplier of goods who is a party to a lay‑by agreement must ensure that:

(a) the agreement is in writing; and

(b) a copy of the agreement is given to the consumer to whom the goods are, or are to be, supplied.

Note: A pecuniary penalty may be imposed for a contravention of this subsection.

(2) A supplier of goods who is a party to a lay‑by agreement must ensure that the agreement is transparent.

(3) A lay‑by agreement is an agreement between a supplier of goods and a consumer for the supply, in trade or commerce, of the goods on terms (whether express or implied) which provide that:

(a) the goods will not be delivered to the consumer until the total price of the goods has been paid; and

(b) the price of the goods is to be paid by:

(i) 3 or more instalments; or

(ii) if the agreement specifies that it is a lay‑by agreement—2 or more instalments.

(4) For the purposes of subsection (3)(b), any deposit paid by the consumer for the goods is taken to be an instalment.