Common use of Consumer Credit Act Clause in Contracts

Consumer Credit Act. 13.1 In the case of a Property Loan only, the Borrower has prior to the date of this Loan Agreement made one of the following declarations as set out in the Loan Terms: (a) The Borrower has declared their high net worth by signing a high net worth declaration in the agreed form and has prior to the date of this Loan Agreement delivered to the Arranger a high net worth statement in the agreed form. Accordingly the Borrower agrees and acknowledges that this Agreement is not a regulated agreement under the CCA and the Borrower will not be afforded the protections that they would otherwise have had under the CCA; (b) The Borrower has made a declaration for exemption relating to investment properties by signing a declaration in the agreed form. Accordingly the Borrower agrees and acknowledges that this Loan Agreement is not a regulated agreement under the CCA and the Borrower will not be afforded the protections that they would otherwise have had under the CCA; or (c) The Borrower has prior to the date of this Loan Agreement made a declaration for exemption relating to businesses by signing a declaration in the agreed form. Accordingly the Borrower agrees and acknowledges that this Loan Agreement is not a regulated agreement under the CCA and the Borrower will not be afforded the protections that they would otherwise have had under the CCA.

Consumer Credit Act. 13.1 In the case of a Property Bridging Loan only, the Borrower has prior to the date of this Loan Agreement made one of the following declarations as set out in the Loan Terms: (a) The Borrower has declared their high net worth by signing a high net worth declaration in the agreed form and has prior to the date of this Loan Agreement delivered to the Arranger a high net worth statement in the agreed form. Accordingly the Borrower agrees and acknowledges that this Agreement is not a regulated agreement under the CCA and the Borrower will not be afforded the protections that they would otherwise have had under the CCA; (b) The Borrower has made a declaration for exemption relating to investment properties by signing a declaration in the agreed form. Accordingly the Borrower agrees and acknowledges that this Loan Agreement is not a regulated agreement under the CCA and the Borrower will not be afforded the protections that they would otherwise have had under the CCA; or (c) The Borrower has prior to the date of this Loan Agreement made a declaration for exemption relating to businesses by signing a declaration in the agreed form. Accordingly the Borrower agrees and acknowledges that this Loan Agreement is not a regulated agreement under the CCA and the Borrower will not be afforded the protections that they would otherwise have had under the CCA.