National Credit Regulator v Self Discovery Cash and Marketing CC (NCT/71714/2016/140(1)) [2017] ZANCT 148 (23 February 2017)

National Credit Regulator v Self Discovery Cash and Marketing CC (NCT/71714/2016/140(1)) [2017] ZANCT 148 (23 February 2017)

The Tribunal found that the Respondent repeatedly contravened the National Credit Act by failing to conduct proper affordability assessments, failing to provide pre-agreement statements and quotations, failing to provide credit agreements in the prescribed form, including unlawful provisions in loan applications, and charging interest rates in excess of the statutory maximum. The Tribunal determined that the complaint was properly initiated via a telephonic complaint from the consumer, and that the inspector's conduct fell within the ambit of section 50(2)(a) and section 154(1)(d)-(h), permitting entry and copying of documents without a warrant. The evidence obtained was therefore...

Citation
[2017] ZANCT 148
Parties
Applicant: National Credit Regulator; Respondent: Self Discovery Cash and Marketing CC
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
23 February 2017
Case Number
NCT/71714/2016/140(1)
Procedural Posture
Administrative Application / Final Judgment After Oral Evidence and Consideration of Points in Limine
Outcome
The application is granted. The Respondent is found to have repeatedly contravened the National Credit Act and is deregistered as a credit provider. An administrative fine is imposed, and further remedial orders are made.
Judges
T Waker, A Potwana, X May
Legal Topics
National Credit Act, Affordability Assessment, Unlawful Contract Terms, Interest Rate Regulation, Debt Enforcement, Administrative Penalty
Banking and Finance Civil Procedure Commercial and Corporate National Credit Act Affordability Assessment Unlawful Contract Terms Interest Rate Regulation Debt Enforcement +1 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 7 Authorities cited 19 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

National Credit Regulator

Applicant

Self Discovery Cash and Marketing CC

Respondent

Procedural Posture

Administrative Application / Final Judgment After Oral Evidence and Consideration of Points in Limine

Legal Issues

  1. 1 Whether the Respondent repeatedly contravened the National Credit Act by failing to conduct proper affordability assessments.
  2. 2 Whether the Respondent failed to provide pre-agreement statements and quotations in the prescribed form.
  3. 3 Whether the Respondent failed to provide credit agreements in the prescribed form to consumers.

Ratio Decidendi

The Tribunal found that the Respondent repeatedly contravened the National Credit Act by failing to conduct proper affordability assessments, failing to provide pre-agreement statements and quotations, failing to provide credit agreements in the prescribed form, including unlawful provisions in loan applications, and charging interest rates in excess of the statutory maximum. The Tribunal determined that the complaint was properly initiated via a telephonic complaint from the consumer, and that the inspector's conduct fell within the ambit of section 50(2)(a) and section 154(1)(d)-(h), permitting entry and copying of documents without a warrant. The evidence obtained was therefore...

Court Disposition

The application is granted. The Respondent is found to have repeatedly contravened the National Credit Act and is deregistered as a credit provider. An administrative fine is imposed, and further remedial orders are made.

Orders

  • The Respondent's registration as a credit provider is cancelled with immediate effect.
  • The Respondent is to pay an administrative fine of R100,000.00 into the National Revenue Fund within 30 business days of the judgment.