25KModification—credit card contracts

#### 25K Modification—credit card contracts (1) For paragraph 164(d) of the Act, this regulation applies to a licensee that enters into a credit contract with a consumer in the form of issuing a credit card. (2) The provisions of the Act to which Part 3‑7 of the Act applies apply as if paragraph 128(a) were modified to read: ‘(a) provide a consumer with a credit card for the purpose of entering a credit contract that is formed or entered by: (i) the use by a consumer of the credit card to obtain credit from the licensee; or (ii) the activation by a consumer of the credit card by arrangement with the licensee;’.