Where a borrower ventures substantially all their capital in developing property for resale at a profit, with residence in the property being incidental to the investment strategy, the credit is predominantly for investment purposes and the Consumer Credit Code does not apply, even where the borrower resides in the property as their principal place of residence. The question whether the 'purpose' of credit under s 6(1)(b) is determined objectively or by reference to the debtor's subjective intention remains unresolved.
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