sec.130EWhat is a financial asset

### sec.130E What is a financial asset A financial asset is any of the following— a loan, including any security for the loan; a credit card account; a hire purchase agreement; a chattel lease, whether finance or operating; a vehicle dealer floor plan agreement; the rights of a financier that are— usually conferred in relation to an asset mentioned in paragraphs (a) to (e) ; and incidental to the asset. In this section— credit card account means an account kept by a credit card provider for a credit card holder recording the balance of account between the provider and the holder for credit card transactions for the holder’s credit card. credit card transaction means a debit or adjustment to a credit card holder’s credit card account that— is for— a payment by a credit card provider to a merchant to whom the holder’s credit card is produced; or a cash advance made by a credit card provider to, or at the direction of, the holder; and involves the giving of credit by the provider or an adjustment of credit previously given by the provider. s 130E ins 2002 No. 65 s 14 (retro) amd 2004 No. 15 s 3 sch (sec.130E-ssec.1) A financial asset is any of the following— a loan, including any security for the loan; a credit card account; a hire purchase agreement; a chattel lease, whether finance or operating; a vehicle dealer floor plan agreement; the rights of a financier that are— usually conferred in relation to an asset mentioned in paragraphs (a) to (e) ; and incidental to the asset. (sec.130E-ssec.2) In this section— credit card account means an account kept by a credit card provider for a credit card holder recording the balance of account between the provider and the holder for credit card transactions for the holder’s credit card. credit card transaction means a debit or adjustment to a credit card holder’s credit card account that— is for— a payment by a credit card provider to a merchant to whom the holder’s credit card is produced; or a cash advance made by a credit card provider to, or at the direction of, the holder; and involves the giving of credit by the provider or an adjustment of credit previously given by the provider. - (a) a loan, including any security for the loan; - (b) a credit card account; - (c) a hire purchase agreement; - (d) a chattel lease, whether finance or operating; - (e) a vehicle dealer floor plan agreement; - (f) the rights of a financier that are— (i) usually conferred in relation to an asset mentioned in paragraphs (a) to (e) ; and (ii) incidental to the asset. - (i) usually conferred in relation to an asset mentioned in paragraphs (a) to (e) ; and - (ii) incidental to the asset. - (i) usually conferred in relation to an asset mentioned in paragraphs (a) to (e) ; and - (ii) incidental to the asset. - (a) is for— (i) a payment by a credit card provider to a merchant to whom the holder’s credit card is produced; or (ii) a cash advance made by a credit card provider to, or at the direction of, the holder; and - (i) a payment by a credit card provider to a merchant to whom the holder’s credit card is produced; or - (ii) a cash advance made by a credit card provider to, or at the direction of, the holder; and - (b) involves the giving of credit by the provider or an adjustment of credit previously given by the provider. - (i) a payment by a credit card provider to a merchant to whom the holder’s credit card is produced; or - (ii) a cash advance made by a credit card provider to, or at the direction of, the holder; and