National Credit Regulator v F en H Cronje Finansiele Dienste (NCT/183247/2021/57(1)) [2025] ZANCT 16 (16 April 2025)

National Credit Regulator v F en H Cronje Finansiele Dienste (NCT/183247/2021/57(1)) [2025] ZANCT 16 (16 April 2025)

The Tribunal found that the respondent had admitted to contravening several provisions of the National Credit Act, including failing to conduct proper affordability assessments, issuing reckless credit, and failing to keep proper records. The parties concluded a settlement agreement addressing these contraventions, including the respondent's voluntary deregistration and consumer refunds. The Tribunal was satisfied that the agreement was competent, proper, related to the dispute, and not contrary to public policy. The Tribunal exercised its discretion to confirm the settlement agreement as a consent order under section 138(1)(b) of the National Credit Act, thereby making its terms...

Citation
[2025] ZANCT 16
Parties
Applicant: National Credit Regulator; Respondent: F en H Cronje Finansiele Dienste CC
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
16 April 2025
Case Number
NCT/183247/2021/57(1)
Procedural Posture
Consent Order Application / Final Determination
Outcome
The settlement agreement is confirmed and made an order of the Tribunal. No cost order is granted.
Judges
MC Peenze, A Potwana, N Maseti
Legal Topics
National Credit Act, Reckless Lending, Affordability Assessment, Credit Provider Registration, Consent Order
Banking and Finance Civil Procedure National Credit Act Reckless Lending Affordability Assessment Credit Provider Registration Consent Order

Case Brief

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Parties

National Credit Regulator

Applicant

F en H Cronje Finansiele Dienste CC

Respondent

Procedural Posture

Consent Order Application / Final Determination

Legal Issues

  1. 1 Whether the respondent contravened sections of the National Credit Act and its conditions of registration as a credit provider.
  2. 2 Whether the settlement agreement between the parties should be confirmed as a consent order under section 138(1)(b) of the National Credit Act.
  3. 3 Whether the terms of the settlement agreement are competent, proper, and in line with public policy.

Ratio Decidendi

The Tribunal found that the respondent had admitted to contravening several provisions of the National Credit Act, including failing to conduct proper affordability assessments, issuing reckless credit, and failing to keep proper records. The parties concluded a settlement agreement addressing these contraventions, including the respondent's voluntary deregistration and consumer refunds. The Tribunal was satisfied that the agreement was competent, proper, related to the dispute, and not contrary to public policy. The Tribunal exercised its discretion to confirm the settlement agreement as a consent order under section 138(1)(b) of the National Credit Act, thereby making its terms...

Court Disposition

The settlement agreement is confirmed and made an order of the Tribunal. No cost order is granted.

Orders

  • The settlement agreement concluded by the parties on 14 April 2024, annexed as 'Annexure A to NCR v F & H Cronje Finansiele Dienste CC – NCT-183247-2021-57(1)', is confirmed and made an order of the Tribunal in terms of section 138(1)(b).
  • There is no cost order.