Page:Consumer Protection (Fair Trading) Act 2003.pdf/19

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CONSUMER PROTECTION (FAIR TRADING)

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(e) prescribing the form or terms of contracts to be used in any consumer transaction and any information to be contained therein;
(f) requiring suppliers to maintain books, accounts (including trust accounts) or records in relation to any consumer transactions, and prescribing the form and mode of keeping such books, accounts and records;
(g) prescribing or adopting, with or without modification, codes, standards or rules governing the conduct of suppliers engaged in any consumer transaction;
(h) prescribing the rights and obligations of parties who have entered a consumer transaction in the event of failure to comply with any provision of this Act or the regulations made thereunder, including the right to sue for such failure; and
(i) specifying limitation periods for any action under this Act or any regulations made thereunder.

FIRST SCHEDULE

Section 2

EXCLUDED TRANSACTIONS

1. The term “consumer transaction” does not include any of the following transactions:

(a) acquisition of an estate or interest in any immovable property (but not including any lease of residential property granted in consideration of rent or any time share contract);
(b) (for the avoidance of doubt) service provided under a contract of employment; or
(c) any transaction or activity that is regulated under any written law specified in paragraph 2.

2. The following Acts are specified for the purposes of paragraph 1(c):

(a) Banking Act (Cap. 19);
(b) Commodity Trading Act (Cap. 48A);
(c) Finance Companies Act (Cap. 108);