Acts Online
GT Shield
credit card scheme

 

means any arrangement or scheme under which--

a) any person (in this definition referred to as a manager) carrying on such arrangement or scheme--
i) authorises any person (in this definition referred to as a credit card holder) in terms of, and on the conditions of, an agreement between the manager and the credit card holder--
aa) to purchase any goods or obtain any services on the strength of a valid credit card issued to him by such manager from any person (in this definition referred to as a supplier) authorised by such manager in terms of, and on the conditions of, an agreement between such manager and the supplier to sell goods or render services to any such credit card holder on the strength of a valid credit card issued to him by such manager;
bb) to obtain an amount of cash from such manager on the strength of a valid credit card issued to him by such manager;
ii) in terms of, and on the conditions of, an agreement between himself and a supplier, undertakes to pay for any goods purchased or services obtained from such supplier by a credit card holder, or for any rights in any agreement for the purchase or obtaining of such goods or services, on the strength of a valid credit card issued to him by such manager;
b) a supplier in terms of, and on the conditions of, an agreement between himself and a manager undertakes to sell goods or render services to a credit card holder on the strength of a valid credit card issued to him by such manager;
c) a credit card holder in terms of, and on the conditions of, an agreement between himself and a manager undertakes--
i) to pay to such manager any amount paid by such manager to a supplier in respect of goods sold or services rendered by such supplier to such credit card holder, or in respect of any rights in any agreement for the purchase or obtaining of such goods or services, on the strength of a valid credit card issued to him by such manager;
ii) to repay to such manager any amount of cash obtained by such credit card holder from such manager on the strength of a valid credit card issued to him by such manager.