7ETerms of contracts

7E Terms of contracts

7E Terms of contracts

(1) A contract must include (and is taken to include) each of the terms set out in Part 1 of Schedule 2. A contract that contains a term that is inconsistent with a term set out in Part 1 of Schedule 2 is unenforceable to the extent of the inconsistency.

(2) The regulations may make provision for or with respect to—

(a) terms or other matter that must be included in a contract or a class of contracts, or

(b) terms or other matter that must not be included in a contract or a class of contracts.

(3) If the regulations require a contract or class of contracts to contain a specified term (a prescribed term), a contract of the kind concerned is taken to include the term. A contract that contains a term that is inconsistent with a prescribed term is unenforceable to the extent of the inconsistency.

(4) If the regulations provide that any term or other matter must not be included in a contract or a class of contracts, any contract that contains that term or other matter is unenforceable to the extent that it includes or applies to that term or other matter.

(5) Any regulation made under this section does not apply to a contract in force at the time that the regulation commences.

(6) This section does not limit section 7(3).

s 7E: Ins 2001 No 51, Sch 2 [6]. Subst 2014 No 24, Sch 1 [18].