Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_204:p5
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 204 (pt 5/9)
Character Range: 1072542–1075253

person—a person who is an insolvent under administration; or
 (b) in the case of a corporation—a corporation that is an externally‑administered corporation within the meaning of the Corporations Act 2001.
instrument includes a statutory instrument.
interest, in relation to land or other property, means:
 (a) a legal or equitable estate in the land or other property; or
 (b) a right, power or privilege over, or in relation to, the land or other property.
key requirement: see Part 6.
land includes any interest in land.
lessee means the lessee under a consumer lease to which Part 11 applies, and includes a prospective lessee.
lessor means the lessor under a consumer lease to which Part 11 applies, and includes a prospective lessor.
linked credit provider: see subsection 127(1).
linked lessor: see subsection 179S(1).
long‑term lease, of a motor vehicle, has the meaning given by subsection 12BA(1) of the Australian Securities and Investments Commission Act 2001.
low cost credit contract: see section 13E.
lowest price, in relation to the cash price of goods or services to which a credit contract relates, means the lowest price including any goods and services tax but unaffected by any discount between the credit provider and the supplier.
market value, of goods or services to which a credit contract or consumer lease relates, means fair market value including any goods and services tax.
medium amount credit contract: a credit contract is a medium amount credit contract if:
 (a) the contract is not a continuing credit contract or a low cost credit contract; and
 (b) the credit provider under the contract is not an ADI; and
 (c) the credit limit of the contract is:
 (i) at least $2,001 (or such other amount as is prescribed by the regulations); but
 (ii) not more than $5,000 (or such other amount as is prescribed by the regulations); and
 (d) the term of the contract is at least 16 days but not longer than 2 years (or such other number of years as is prescribed by the regulations); and
 (e) the contract meets any other requirements prescribed by the regulations.
merchant service agreement means an agreement between a credit provider and a supplier of goods and services under which the credit provider agrees to pay to the supplier amounts for goods or services supplied by the supplier and paid by means of credit cards, whether or not the credit cards are issued by the credit provider.
modification includes addition, omission or substitution.
mortgage includes:
 (a) any interest in, or power over, property securing obligations of a debtor or guarantor; or
 (b) a credit provider's title to land or goods subject to a sale by instalments; or
 (c) a mortgage taken to have been