National Credit Regulator v Magdel & Tia Financial Services t/a Impala Cash Loans (NCT/38083/2016/140(1)) [2016] ZANCT 24 (29 July 2016)

National Credit Regulator v Magdel & Tia Financial Services t/a Impala Cash Loans (NCT/38083/2016/140(1)) [2016] ZANCT 24 (29 July 2016)

The Tribunal did not make findings on the merits of the alleged contraventions, as the parties reached a settlement agreement prior to the hearing. The Tribunal examined the settlement agreement and determined that it met the requirements for jurisdiction and was appropriate to be made an order of the Tribunal. The agreement resolved the dispute and obviated the need for further adjudication or evidence. No order as to costs was made, and none was requested.

Citation
[2016] ZANCT 24
Parties
Applicant: National Credit Regulator; Respondent: Magdel & Tia Financial Services t/a Impala Cash Loans
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
29 July 2016
Case Number
NCT/38083/2016/140(1)
Procedural Posture
Review Application / Settlement Agreement Made Order of Tribunal
Outcome
Settlement agreement made an order of the Tribunal; no order as to costs.
Judges
J Simpson, P Beck, B Dumisa
Legal Topics
National Credit Act, Prohibited Conduct, Administrative Fine, Settlement Agreement
Banking and Finance Civil Procedure National Credit Act Prohibited Conduct Administrative Fine Settlement Agreement

Case Brief

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Parties

National Credit Regulator

Applicant

Magdel & Tia Financial Services t/a Impala Cash Loans

Respondent

Procedural Posture

Review Application / Settlement Agreement Made Order of Tribunal

Legal Issues

  1. 1 Whether the Respondent contravened section 80(1) of the National Credit Act.
  2. 2 Whether the Respondent contravened section 81(2)(a) of the National Credit Act.
  3. 3 Whether the Respondent contravened section 81(3) of the National Credit Act.

Ratio Decidendi

The Tribunal did not make findings on the merits of the alleged contraventions, as the parties reached a settlement agreement prior to the hearing. The Tribunal examined the settlement agreement and determined that it met the requirements for jurisdiction and was appropriate to be made an order of the Tribunal. The agreement resolved the dispute and obviated the need for further adjudication or evidence. No order as to costs was made, and none was requested.

Court Disposition

Settlement agreement made an order of the Tribunal; no order as to costs.

Orders

  • The settlement agreement between the parties dated 21 July 2016 is made an order of the Tribunal.
  • There is no order as to costs.