Exclusions

[Dave A]

Section 4.2. (c) reads

this Act applies to a credit guarantee only to the extent that this Act applies to a credit facility or credit transaction in respect of which the credit guarantee is granted;

so from that it would seem if the consumer is excluded from the provisions/protection of the NCA, then so is the guarantor/surety.

[Mewler]

Hmmmm. Section 4(2)(c)of the Act. I don't read it the same way as you do. The consumer is not actually mentioned.

I read it that the Act would apply to the guarantor in pretty much the same way as if the guarantor was actually the consumer. So, if the guarantor falls within the thresholds which would entitle him to the protection of the Act, then he is indeed entitled to such protection.

Not an easy subsection to interpret! Is there any precedent anyone knows of? Any opinions?