National Credit Regulator v Marong Rong Cash Loan CC (NCT/98839/2018/57(1)) [2018] ZANCT 147 (29 August 2018)

National Credit Regulator v Marong Rong Cash Loan CC (NCT/98839/2018/57(1)) [2018] ZANCT 147 (29 August 2018)

The Tribunal found that the requirements of section 138 of the National Credit Act were satisfied, as the parties had reached a settlement agreement regarding the alleged contraventions. The Tribunal confirmed the settlement agreement as a consent order, thereby resolving the dispute without the need for further evidence or hearing. No order as to costs was made.

Citation
[2018] ZANCT 147
Parties
Applicant: National Credit Regulator; Respondent: Marong Rong Cash Loan CC
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
29 August 2018
Case Number
NCT/98839/2018/57(1)
Procedural Posture
Review Application / Settlement Agreement Confirmation
Outcome
Settlement agreement confirmed as a consent order; no order as to costs.
Judges
P A Beck, D Terblanche, F Manamela
Legal Topics
National Credit Act, Credit Provider Registration, Consent Order, Administrative Fine
Banking and Finance National Credit Act Credit Provider Registration Consent Order Administrative Fine

Case Brief

Summary, issues, holding and outcome

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Parties

National Credit Regulator

Applicant

Marong Rong Cash Loan CC

Respondent

Procedural Posture

Review Application / Settlement Agreement Confirmation

Legal Issues

  1. 1 Whether the settlement agreement between the parties should be confirmed as a consent order under section 138 of the National Credit Act.
  2. 2 Whether the Respondent is in contravention of the National Credit Act and Regulations.
  3. 3 Whether the Tribunal should cancel the Respondent's registration as a credit provider and impose an administrative fine.

Ratio Decidendi

The Tribunal found that the requirements of section 138 of the National Credit Act were satisfied, as the parties had reached a settlement agreement regarding the alleged contraventions. The Tribunal confirmed the settlement agreement as a consent order, thereby resolving the dispute without the need for further evidence or hearing. No order as to costs was made.

Court Disposition

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

Orders

  • The Settlement Agreement entered into between the Applicant and the Respondent on 29 August 2018 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.
  • There is no order made as to costs.