National Credit Regulator v Magdel and Tia Financial Services t/a Impala Cash Loans (NCT/38083/2016/140(1)) [2016] ZANCT 27 (1 August 2016)

National Credit Regulator v Magdel and Tia Financial Services t/a Impala Cash Loans (NCT/38083/2016/140(1)) [2016] ZANCT 27 (1 August 2016)

The Tribunal did not make findings on the merits of the alleged contraventions due to the parties reaching a settlement agreement. The Tribunal examined the agreement and determined that it met the requirements for jurisdiction and was appropriate to be made an order of the Tribunal. The settlement agreement thus resolved the dispute without the need for further adjudication or evidence. No order as to costs was made, and none was requested.

Citation
[2016] ZANCT 27
Parties
Applicant: National Credit Regulator; Respondent: Magdel & Tia Financial Services t/a Impala Cash Loans
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
1 August 2016
Case Number
NCT/38083/2016/140(1)
Procedural Posture
Review Application / Settlement Agreement Made Order of Tribunal
Outcome
Settlement agreement made an order of the Tribunal; no order as to costs.
Judges
J Simpson, P Beck, B Dumisa
Legal Topics
National Credit Act Compliance, Prohibited Conduct, Administrative Fine, Settlement Agreement
Banking and Finance Civil Procedure National Credit Act Compliance Prohibited Conduct Administrative Fine Settlement Agreement

Case Brief

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Parties

National Credit Regulator

Applicant

Magdel & Tia Financial Services t/a Impala Cash Loans

Respondent

Procedural Posture

Review Application / Settlement Agreement Made Order of Tribunal

Legal Issues

  1. 1 Whether the Respondent contravened section 80(1) of the National Credit Act.
  2. 2 Whether the Respondent contravened section 81(2)(a) of the National Credit Act.
  3. 3 Whether the Respondent contravened section 81(3) of the National Credit Act.

Ratio Decidendi

The Tribunal did not make findings on the merits of the alleged contraventions due to the parties reaching a settlement agreement. The Tribunal examined the agreement and determined that it met the requirements for jurisdiction and was appropriate to be made an order of the Tribunal. The settlement agreement thus resolved the dispute without the need for further adjudication or evidence. No order as to costs was made, and none was requested.

Court Disposition

Settlement agreement made an order of the Tribunal; no order as to costs.

Orders

  • The settlement agreement dated 21 July 2016 between the parties is made an order of the Tribunal.
  • There is no order as to costs.