9Meaning of credit
(1)In this Act "credit" includes a cash loan, and any other form of financial accommodation.
(2)Where credit is provided otherwise than in sterling it shall be treated for the purposes of this Act as provided in sterling of an equivalent amount.
(3)Without prejudice to the generality of subsection (1), the person by whom goods are bailed or (in Scotland) hired to an individual under a hire-purchase agreement shall be taken to provide him with fixed-sum credit to finance the transaction of an amount equal to the total price of the goods less the aggregate of the deposit (if any) and the total charge for credit.
(4)For the purposes of this Act, an item entering into the total charge for credit shall not be treated as credit even though time is allowed for its payment.