National Credit Regulator v Mr Price Group Limited (NCT/81672/2017/140(1))
National Credit Regulator v Mr Price Group Limited (NCT/81672/2017/140(1)) [2018] ZANCT 140 (10 December 2018)
The Tribunal found that the club fee offered by Mr Price Group Limited to Milady's customers is an optional charge for a separate club membership service, not a mandatory cost of credit. Documentary evidence showed that consumers could elect whether or not to join the club, and the fee could be cancelled at any time without affecting the underlying credit agreement. The Act provides a closed list of permissible charges under section 101, but the club fee does not fall within these categories. However, because the fee is not required as a condition of the credit agreement and is not imposed on…
Source excerpt
- National Credit Act
- Prohibited Fees
- Cost Of Credit
- Club Membership Fees