3(1)A duty, in respect of a credit agreement, imposed on a credit grantor under Part III, V or VI or a right, benefit or protection, in respect of a credit agreement, granted to a borrower or credit grantor under Part III, V or VI applies in respect of any credit agreement entered into or to be entered into by the credit grantor in the ordinary course of carrying on a business on or after the commencement of this Act.

3(2)A duty, in respect of a credit agreement, imposed on a credit grantor or credit broker under Part IV applies in respect of any credit agreement that is entered into or to be entered into by the credit grantor on or after the commencement of this Act and that is arranged by a credit broker.

3(3)A duty, in respect of a lease, imposed on a lessor under Part III or VII or a right, benefit or protection, in respect of a lease, granted to a lessee or lessor under Part III or VII applies in respect of any lease entered into or to be entered into by the lessor in the ordinary course of carrying on a business on or after the commencement of this Act.