National Credit Regulator v Xue Cheng (Pty) Ltd Trading as Golden Sun Cash Loans (NCT/266895/2023/140(1)) [2025] ZANCT 17 (29 April 2025)

National Credit Regulator v Xue Cheng (Pty) Ltd Trading as Golden Sun Cash Loans (NCT/266895/2023/140(1)) [2025] ZANCT 17 (29 April 2025)

The Tribunal found that the respondent admitted to contraventions of the National Credit Act, including reckless lending and charging excessive fees, and accepted liability in the settlement agreement. The Tribunal held that the application for a consent order was competent and that the settlement agreement brought finality to the dispute. Accordingly, the Tribunal confirmed the settlement agreement as a consent order under section 138 of the NCA, making its terms enforceable. No order as to costs was made.

Citation
[2025] ZANCT 17
Parties
Applicant: National Credit Regulator; Respondent: Xue Cheng (Pty) Ltd Trading as Golden Sun Cash Loans
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
29 April 2025
Case Number
NCT/266895/2023/140(1)
Procedural Posture
Consent Order Application / Consent Order Application Following Opposed Referral
Outcome
Settlement agreement confirmed as a consent order. No order as to costs.
Judges
A Potwana
Legal Topics
National Credit Act, Reckless Lending, Prohibited Conduct, Administrative Fine, Settlement Agreement
Banking and Finance Commercial and Corporate National Credit Act Reckless Lending Prohibited Conduct Administrative Fine Settlement Agreement

Case Brief

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Parties

National Credit Regulator

Applicant

Xue Cheng (Pty) Ltd Trading as Golden Sun Cash Loans

Respondent

Procedural Posture

Consent Order Application / Consent Order Application Following Opposed Referral

Legal Issues

  1. 1 Whether the respondent contravened specified sections and regulations of the National Credit Act.
  2. 2 Whether the settlement agreement between the parties should be confirmed as a consent order under section 138 of the NCA.
  3. 3 Whether the respondent's conduct constitutes prohibited conduct under the NCA.

Ratio Decidendi

The Tribunal found that the respondent admitted to contraventions of the National Credit Act, including reckless lending and charging excessive fees, and accepted liability in the settlement agreement. The Tribunal held that the application for a consent order was competent and that the settlement agreement brought finality to the dispute. Accordingly, the Tribunal confirmed the settlement agreement as a consent order under section 138 of the NCA, making its terms enforceable. 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 between the applicant and the respondent is confirmed as an order of the Tribunal.
  • No order is made as to costs.