National Credit Regulator v Nonies Legacy (Pty) Ltd t/a Nonies Legacy Cash Loans (NCT-384962-2025-57(1)) [2025] ZANCT 38 (23 June 2025)

National Credit Regulator v Nonies Legacy (Pty) Ltd t/a Nonies Legacy Cash Loans (NCT-384962-2025-57(1)) [2025] ZANCT 38 (23 June 2025)

The Tribunal found that the respondent repeatedly contravened multiple provisions of the National Credit Act and associated regulations. The respondent failed to conduct proper affordability assessments, did not provide consumers with prescribed pre-agreement statements and credit agreements, and charged interest rates far in excess of statutory limits. The respondent also failed to comply with registration conditions and statutory reporting obligations. All allegations were deemed admitted due to the respondent's failure to oppose. The Tribunal held that these contraventions constituted prohibited conduct and reckless lending. Given the seriousness and repeated nature of the breaches,...

Citation
[2025] ZANCT 38
Parties
Applicant: National Credit Regulator; Respondent: Nonies Legacy (Pty) Ltd t/a Nonies Legacy Cash Loans
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
23 June 2025
Case Number
NCT-384962-2025-57(1)
Procedural Posture
Review Application / Default Judgment After Unopposed Hearing
Outcome
Application granted. Respondent's registration cancelled. Prohibited conduct declared. Administrative fine imposed. Auditor to be appointed for consumer redress.
Judges
MC Peenze, CJ Ntsoane, ZP Ntuli
Legal Topics
National Credit Act, Reckless Lending, Affordability Assessment, Administrative Fine, Credit Provider Registration, Consumer Protection
Banking and Finance Civil Procedure National Credit Act Reckless Lending Affordability Assessment Administrative Fine Credit Provider Registration Consumer Protection

Case Brief

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Parties

National Credit Regulator

Applicant

Nonies Legacy (Pty) Ltd t/a Nonies Legacy Cash Loans

Respondent

Procedural Posture

Review Application / Default Judgment After Unopposed Hearing

Legal Issues

  1. 1 Whether the respondent contravened the National Credit Act and associated regulations.
  2. 2 Whether the respondent engaged in reckless lending and failed to conduct proper affordability assessments.
  3. 3 Whether the respondent failed to provide consumers with prescribed pre-agreement statements and credit agreements.

Ratio Decidendi

The Tribunal found that the respondent repeatedly contravened multiple provisions of the National Credit Act and associated regulations. The respondent failed to conduct proper affordability assessments, did not provide consumers with prescribed pre-agreement statements and credit agreements, and charged interest rates far in excess of statutory limits. The respondent also failed to comply with registration conditions and statutory reporting obligations. All allegations were deemed admitted due to the respondent's failure to oppose. The Tribunal held that these contraventions constituted prohibited conduct and reckless lending. Given the seriousness and repeated nature of the breaches,...

Court Disposition

Application granted. Respondent's registration cancelled. Prohibited conduct declared. Administrative fine imposed. Auditor to be appointed for consumer redress.

Orders

  • It is declared that the respondent contravened specified sections and regulations of the National Credit Act and associated regulations.
  • The contraventions are declared prohibited conduct.