Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_204:p2
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 204 (pt 2/9)
Character Range: 1065014–1067718

term of the contract ends; and
 (ii) intends to discharge the debtor's obligations under the contract so far as possible with that sum; and
 (aa) the term of the contract is 2 years or less; and
 (b) the conditions (if any) prescribed by the regulations are met.
Bulk Electronic Clearing System means the system established by the Australian Payments Clearing Association to manage the conduct of the exchange and settlement of bulk electronic low value transactions and includes any replacement system.
business day means a day that is not:
 (a) a Saturday or Sunday; or
 (b) a public holiday, special holiday or bank holiday in the place in which any relevant act is to be or may be done.
buy now pay later arrangement: see section 13D.
buy now pay later contract: see section 13D.
carried on in this jurisdiction has a meaning affected by section 12 of the National Credit Act.
cash price of goods or services to which a credit contract relates means:
 (a) the lowest price that a cash purchaser might reasonably be expected to pay for them from the supplier; or
 (b) if the goods or services are not available for cash from the supplier or are only available for cash at the same, or a reasonably similar, price to the price that would be payable for them if they were sold with credit provided—the market value of the goods or services.
commission includes any form of monetary consideration or any form of non‑monetary consideration to which a monetary value can be assigned.
compulsory insurance means:
 (a) compulsory third‑party personal injury insurance; or
 (b) insurance of a nature declared by the regulations to be compulsory insurance for the purposes of this Code.
constitutional corporation has the same meaning as in section 5 of the National Credit Act.
constitutional trade and commerce has the same meaning as in section 5 of the National Credit Act.
consumer credit insurance means insurance that insures the capacity of the debtor to make repayments under the credit contract, including insurance against sickness of, injury to, or disability or death of, the debtor or against unemployment of the debtor, and also including life insurance (including insurance under a group policy) to cover any outstanding amount on the debtor's death.
consumer lease: see section 169.
consumer lease fees or charges means fees or charges payable in connection with a consumer lease, but does not include:
 (a) enforcement expenses; or
 (b) government charges, or duties, on receipts or withdrawals.
consumer lease for household goods means a consumer lease to which Part 11 applies where any of the goods hired under the lease are household goods, but does not include a consumer lease where the