Uys N O and Others v National Credit Regulator and Another (869/2023)
Uys N O and Others v National Credit Regulator and Another (869/2023) [2025] ZASCA 34; [2025] 3 All SA 71 (SCA) (1 April 2025)
The Supreme Court of Appeal found that the impugned transactions did not constitute credit agreements as defined by section 8(1)(b) read with section 8(4)(f) of the National Credit Act. The agreements were genuine sale and leaseback transactions, with the properties transferred to the Trust and the sellers retaining an option to repurchase. There was no evidence of a legal obligation to repay the purchase price, nor any disguised intention to simulate a loan agreement. The Regulator failed to provide confirmatory evidence or oral testimony to support its allegations of simulation. The Trust's…
Source excerpt
- National Credit Act
- Simulated Transactions
- Credit Agreements Definition
- Sale And Leaseback
- Reckless Credit
- Registration Of Credit Providers