Meaning of “credit-token”U.K.
92Meaning of “credit-token”U.K.
(1)In this Chapter “credit-token” means a credit card, debit card or other card, a token, a document or other object given to a person by another person (“X”) who undertakes—
(a)on the production of it, to supply money, goods or services on credit, or
(b)if a third party (“Y”) supplies money, goods or services on its production, to pay Y for what is supplied.
(2)A card, token, document or other object can be a credit-token even if—
(a)some other action is required in addition to its production in order for the money, goods or services to be supplied;
(b)X in paying Y may take a discount or commission.
(3)For the purposes of this section—
(a)the use of an object given by X to operate a machine provided by X is to be treated as its production to X, and
(b)the use of an object given by X to operate a machine provided by Y is to be treated as its production to Y.
(4)A “credit-token” does not include a cash voucher or a non-cash voucher.