National Credit Regulator v Kitso Trading 52 CC t/a Crisis Cash (NCT/38606/2016/140(1) NCA) [2016] ZANCT 28 (2 August 2016)

National Credit Regulator v Kitso Trading 52 CC t/a Crisis Cash (NCT/38606/2016/140(1) NCA) [2016] ZANCT 28 (2 August 2016)

The Tribunal found that the settlement agreement entered into by the applicant and respondent on 21 July 2016 complied with the requirements of section 138 of the National Credit Act. The Tribunal was satisfied that both parties had signed and initialled each page of the agreement, and that the agreement resolved the issues raised in the application. Accordingly, the Tribunal confirmed the settlement agreement as a consent order and made no order as to costs.

Citation
[2016] ZANCT 28
Parties
Applicant: National Credit Regulator; Respondent: Kitso Trading 52 CC t/a Crisis Cash
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 August 2016
Case Number
NCT/38606/2016/140(1) NCA
Procedural Posture
Review Application / Settlement Agreement Confirmation
Outcome
Settlement agreement confirmed as a consent order; no order as to costs.
Judges
J Maseko, X May, H Devraj
Legal Topics
National Credit Act, Prohibited Conduct, Administrative Fine, Settlement Agreement
Banking and Finance National Credit Act Prohibited Conduct Administrative Fine Settlement Agreement

Case Brief

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Parties

National Credit Regulator

Applicant

Kitso Trading 52 CC t/a Crisis Cash

Respondent

Procedural Posture

Review Application / Settlement Agreement Confirmation

Legal Issues

  1. 1 Whether the alleged contraventions of the National Credit Act by the respondent constitute prohibited conduct.
  2. 2 Whether the settlement agreement between the parties should be confirmed as a consent order under section 138 of the National Credit Act.
  3. 3 Whether an order for costs should be made.

Ratio Decidendi

The Tribunal found that the settlement agreement entered into by the applicant and respondent on 21 July 2016 complied with the requirements of section 138 of the National Credit Act. The Tribunal was satisfied that both parties had signed and initialled each page of the agreement, and that the agreement resolved the issues raised in the application. Accordingly, the Tribunal confirmed the settlement agreement as a consent order and made no order as to costs.

Court Disposition

Settlement agreement confirmed as a consent order; no order as to costs.

Orders

  • The settlement agreement entered into between the applicant and respondent on 21 July 2016 is made an order of the National Consumer Tribunal in terms of section 138 of the National Credit Act, Act 34 of 2005 as amended.
  • No order is made as to costs.