National Credit Regulator v Pole Position Trading 205 CC (NCT/85013/2017/57(1)) [2017] ZANCT 114 (12 October 2017)

National Credit Regulator v Pole Position Trading 205 CC (NCT/85013/2017/57(1)) [2017] ZANCT 114 (12 October 2017)

The Tribunal found that the Respondent repeatedly contravened the National Credit Act by failing to conduct proper affordability assessments and credit checks, granting reckless credit, charging fees in excess of prescribed maximums, and including unlawful provisions in its credit agreements. The evidence was uncontested, and the requirements for cancellation of registration and imposition of an administrative fine were met. The Tribunal considered the gravity, duration, and extent of the contraventions, the harm caused to consumers, and the lack of opposition from the Respondent. The Respondent's registration as a credit provider was cancelled, and an administrative fine of R50,000 was...

Citation
[2017] ZANCT 114
Parties
Applicant: National Credit Regulator; Respondent: Pole Position Trading 205 CC
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
12 October 2017
Case Number
NCT/85013/2017/57(1)
Procedural Posture
Review Application / Default Judgment Following Non Opposition
Outcome
Application granted. Respondent found in repeated contravention of the National Credit Act and Regulations. Registration cancelled. Administrative fine imposed. Refunds ordered.
Judges
J Simpson, M Nkomo, H Devraj
Legal Topics
National Credit Act, Reckless Lending, Affordability Assessment, Unlawful Contract Terms, Administrative Fine
Banking and Finance Civil Procedure National Credit Act Reckless Lending Affordability Assessment Unlawful Contract Terms Administrative Fine

Case Brief

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Parties

National Credit Regulator

Applicant

Pole Position Trading 205 CC

Respondent

Procedural Posture

Review Application / Default Judgment Following Non Opposition

Legal Issues

  1. 1 Whether the Respondent repeatedly contravened the National Credit Act and associated Regulations.
  2. 2 Whether the Respondent failed to conduct proper affordability assessments and credit checks before granting credit.
  3. 3 Whether the Respondent charged fees in excess of the prescribed maximums under the Act.

Ratio Decidendi

The Tribunal found that the Respondent repeatedly contravened the National Credit Act by failing to conduct proper affordability assessments and credit checks, granting reckless credit, charging fees in excess of prescribed maximums, and including unlawful provisions in its credit agreements. The evidence was uncontested, and the requirements for cancellation of registration and imposition of an administrative fine were met. The Tribunal considered the gravity, duration, and extent of the contraventions, the harm caused to consumers, and the lack of opposition from the Respondent. The Respondent's registration as a credit provider was cancelled, and an administrative fine of R50,000 was...

Court Disposition

Application granted. Respondent found in repeated contravention of the National Credit Act and Regulations. Registration cancelled. Administrative fine imposed. Refunds ordered.

Orders

  • The Respondent's contravention of the provisions of the Act is declared prohibited conduct.
  • With immediate effect, the registration of the Respondent as a credit provider is cancelled.