South Africa Act or statute

Parliament of the Republic of South Africa

National Credit Amendment Act, 2014

accreditationaffordability assessmentsagent registrationalternative dispute resolutionamendmentapplication criteriaappointment eligibilityappointmentsaudit verificationauthorisationbank investigation noticeBanking and financebenefitscancellationclearance certificatescode of conductcollectionscommencementcompensationcomplaintscomplaints submissioncompliancecompliance monitoringconduct complianceconfidential informationconflicts of interestconsumer choiceconsumer complaintsconsumer creditconsumer credit complaintsconsumer credit informationcorporate authoritycourt orderscourt procedurecourt proceedingscredit agreementscredit assessmentcredit assessment procedurescredit bureau compliancecredit bureau information handlingcredit bureau reportingcredit bureauxcredit informationcredit insurancecredit provider actionscredit provider registrationcredit providerscredit recordscredit regulationcredit servicescustomer rightscustomer transferdebt assessmentdebt collectiondebt counsellingdebt counsellor registrationdebt enforcementdebt re-activationdebt registrationdebt reportingdebt reviewdebt saledebt settlementdefault remedydefinitionsdelegationderegistrationdisclosuredispute referraldispute resolutionemployee remunerationemployee trainingemployment termsfee disclosurefee settingfeesfinancial compliancefinancial regulationfinancial reportingfitness for officegovernanceindustry consultationinsolvencyinsolvency statusinsuranceinter-authority agreementlegal changelegislative amendmentlicence reviewministerial noticeministerial proceduremortgagenotice deliverynotice periodsoffice-holder disqualificationpayment defaultpayment distribution agent registrationpenaltiesprescribed criteria and measuresprescribed debtprocedural rulespublic administrationpublic consultationreckless creditrecords transferregistrationregistration cancellationregistration renewalregulator managementregulatory complianceregulatory enforcementregulatory noticesregulatory reportingregulatory rulemakingregulatory timingsecured loansservice restrictionsshort titlestatus continuationstatutory amendmentstatutory changesupplementary agreementsthreshold determinationtrainingtribunal governancetribunal proceedingstrust accountsunlawful provisionsunlawful terms

Jurisdiction: South Africa
Structure: 86 provisions
Citation: Act 19 of 2014
Dates: updated 19 May 2014

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Dates: updated 19 May 2014

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“This section amends section 1 of the National Credit Act by changing several definitions, including “code of conduct,” “mortgage,” and “mortgage agreement.””

This section amends section 1 of the National Credit Act by changing several definitions, including “code of conduct,” “mortgage,” and “mortgage agreement.” This section amends the National Credit Act, 2005 by deleting some definitions and replacing or adding several others. This section amends Section 17 to require the National Credit Regulator to act, including notifying the Registrar of Banks within the agreed time frame before investigating a bank. Sections 19, 20, 21 and 22 of the principal Act are repealed. The Minister must appoint a suitably qualified and experienced person as Chief Executive Officer of the National Credit Regulator.

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Section 1 of the National Credit Act, 2005 (hereinafter referred to as the principal

This section amends section 1 of the National Credit Act by changing several definitions, including “code of conduct,” “mortgage,” and “mortgage agreement.”

Section 1

Ngakho-ke isigaba sama-40 soMthethongqangi sichitshiyelwe ngokufaka enda-

A person must apply to be registered as a credit provider when the stated credit activity or debt threshold is met.

Section 10

Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuva

A credit provider must send settlement information to all credit bureaus within 7 days, and the credit bureau must remove the related adverse listing within 7 days of receiving it.

Section 22

Section 130 of the principal Act is hereby amended by the substitution in

Section 130 is amended so that paragraph (a) now requires at least 10 business days to have passed after the credit provider gives notice to the consumer.

Section 33

Ngakho-ke isigaba sama-71 se-

Anyone may lodge a complaint with the Commission in the prescribed manner about certain matters, alleging non-compliance with the Act.

Section 1

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Showing 86 of 86 provisions

Substitution 32Amendment 29Provision 18Repeal 3

§ 1Section 1 of the National Credit Act, 2005 (hereinafter referred to as the principalSubstitution

This section amends section 1 of the National Credit Act by changing several definitions, including “code of conduct,” “mortgage,” and “mortgage agreement.”

1. Section 1 of the National Credit Act, 2005 (hereinafter referred to as the principal Act), is hereby amended— (a) by the deletion of the deﬁnition of ‘Board’; (b) by the insertion after the deﬁnition of ‘‘Cabinet’’ of the following deﬁnition: ‘‘ ‘code of conduct’ except in respect of the industry code of conduct contemplated in section 76, means a code regulating the interaction between or among persons conducting business within an industry;’’; (c) by the deletion of the deﬁnition of ‘member of the Board’; (d) by the substitution for the deﬁnition of ‘‘mortgage’’ of the following deﬁnition: ‘‘ ‘mortgage’ means a mortgage bond registered by the registrar of deeds over immovable property that serves as continuing covering security for a mortgage agreement;’’; (e) by the substitution for the deﬁnition of ‘‘mortgage agreement’’ of the following deﬁnition: ‘‘ ‘mortgage agreement’ means a credit agreement that is secured by [a pledge of immovable property] the registration of a mortgage bond by the registrar of deeds over immovable property;’’; 5 10 15 20 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 3 Ino. 19 Ka 2014 INCAZELO EJWAYELEKILE: [ ] acasiswe Amagama akubakaki ngombhalo abayisikwele abonisa okukhiswayo/okususiwe emthethweni osebenzayo. ogqamile Amagama okufakelwayo emthethweni osebenzayo. adwetshelwe ngomugqa ogqamile akhombisa (English text signed by the President) (Assented to 16 May 2014) UMTHETHO Uchibiyela uMthetho weziKweleti kaZwelonke, wezi-2005, ukuze uchibiyele izincazelo ezithile; ukhuthaza uMphathi oMkhulu ukuba adlulisele imisebenzi ethile kwabanye abasebenzi boPhiko Olulawula iziKweleti kuZwelonke; uhlinzekela ngokubhalisa abaqoqa izikweleti kumakhasimende; ukuqinisa izinyathelo ezihambisana nabaluleki bezikweleti nokuqhuba umsebenzi wabo njengabaluleki bezikweleti; ukuvumela abaluleki bezikweleti ukuba bazisule ngokwabo ukubhalisa kwabo; ukukhuthaza uNgqongqoshe ukuba akhiphe isaziso sokususa imininingwane engelona usizo, ukuhlinzekela ngokususa imininingwane yamakhasimende engelona usizo; ukukhuthaza iNkundla yeziKweleti kaZwelonke ukuba imise izivumelwano zezikweleti zobudedengu; ukuhlinzekela ngokubhalisa nokugunyaza Ngezinye iziThunywa eziXazulula iziNgxabano; nokuhlinzekela ngezinye izindaba ezihambisana nawo. UZOMISWA iPhalamende laseNingizimu Afrika, ngale ndlela elandelayo:— Ukuchibiyela isigaba soku-1 soMthetho wama-34 wezi-2005

Section 1Verify source

§ 1Isigaba soku-1 soMthetho weziKweleti kaZwelonke, wezi- 2005 (kulokhu obizwaSubstitution

This section amends the National Credit Act, 2005 by deleting some definitions and replacing or adding several others.

1. Isigaba soku-1 soMthetho weziKweleti kaZwelonke, wezi- 2005 (kulokhu obizwa ngokuthi uMthethongqangi), uyachitshiyelwa— (a) ngokususa incazelo ‘iBhodi’; (b) ngokushutheka ngemuva kwencazelo ‘‘iKhabhinethi’’ le ncazelo elandelayo: ‘‘ ‘inkambiso yokuziphatha’ ngaphandle kwenkambiso yokuziphatha ichaza inkambiso elawula ezimbonini evezwe esigabeni sama-76, ukuxhumana phakathi noma kubantu abaqhuba umsebenzi embonini;’’ (c) ngokususa incazelo ‘ilungu leBhodi’; (d) ngokufaka elandelayo: endaweni yencazelo ‘‘isibambiso sempahla’’ le ncazelo ‘‘ ‘isibambiso sempahla’ sichaza isibambiso sempahla esibhaliswe unobhala wobunikazi empahla engaphatheki esiyisibambiso sesivu- melwano sesibambiso sempahla;’’; (e) ngokufaka endaweni yencazelo ‘‘isivumelwano sesibambiso sempahla’’ le ncazelo elandelayo: ‘‘ ‘isivumelwano sesibambiso sempahla’ isivumelwano sesikweleti esenziwa [isifungo ngempahla engaphatheki] ngoku- bhalisa isibambiso sebhondi kunobhala obhalisa ubunikazi empahleni engaphatheki;’’; sichaza 5 10 15 20 4 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 4 (f) by the insertion after the deﬁnition of ‘‘pawn transaction’’ of the following deﬁnition: ‘‘ ‘payment distribution agent’ means a person who on behalf of a that has applied for debt review in terms of this Act, consumer, distributes payments to credit providers in terms of a debt re- arrangement, court order, order of the Tribunal or an agreement;’’; (g) by the substitution for the deﬁnition of ‘‘prohibited conduct’’ of the following deﬁnition: ‘‘ ‘prohibited conduct’ means an act or omission in contravention of this Act[, other than an act or omission that constitutes an offence under this Act, by— (a) an unregistered person who is required to be registered to engage in such an act; or 5 10 (b) a credit provider, credit bureau or debt counsellor];’’; and (h) by the substitution in the deﬁnition of ‘‘secured loan’’ for paragraph (b) of the 15 following paragraph: ‘‘(b) retains, or receives a pledge [or cession of the title] to any movable property or other thing of value as security for all amounts due under that agreement;’’. Amendment of section 17 of Act 34 of 2005 20

Section 1Verify source

§ 2Section 17 of the principal Act is hereby amended—Repeal

This section amends Section 17 to require the National Credit Regulator to act, including notifying the Registrar of Banks within the agreed time frame before investigating a bank.

2. Section 17 of the principal Act is hereby amended— (a) by the substitution in subsection (4) for the words preceding paragraph (a) of the following words: ‘‘The National Credit Regulator [may] must—’’; (b) by the substitution in subsection (4)(b) for the words preceding subparagraph 25 (i) of the following words: ‘‘(b) [negotiate agreements] enter into a valid agreement with any regulatory authority to—’’; (c) by the deletion in subsection (4) of the word ‘‘and’’ at the end of paragraph (c); (d) by the insertion in subsection (4) of the word ‘‘and’’ at the end of paragraph 30 (d); (e) by the addition in subsection (4) of the following paragraph: ‘‘(e) notify the Registrar of Banks designated in terms of the Banks Act, 1990 ( Act No. 94 of 1990), within the agreed time frame, of its intention to investigate a bank as deﬁned in the Banks Act, 1990.’’; and (f) by the substitution in subsection (5) for paragraph (a) of the following paragraph: ‘‘(a) [may negotiate agreements] must enter into a valid agreement with the National Credit Regulator, as anticipated in subsection [4](4)(b); and’’. Repeal of sections 19, 20, 21 and 22 of Act 34 of 2005

Section 2Verify source

§ 3Sections 19, 20, 21 and 22 of the principal Act are hereby repealed.Repeal

Sections 19, 20, 21 and 22 of the principal Act are repealed.

3. Sections 19, 20, 21 and 22 of the principal Act are hereby repealed. Amendment of section 23 of Act 34 of 2005

Section 3Verify source

§ 4Section 23 of the principal Act is hereby amended—Substitution

The Minister must appoint a suitably qualified and experienced person as Chief Executive Officer of the National Credit Regulator.

4. Section 23 of the principal Act is hereby amended— (a) by the substitution for subsection (1) of the following subsection: ‘‘(1) The Minister must appoint a suitably qualiﬁed and experienced person as Chief Executive Officer of the National Credit Regulator, who [— (a) with the advice, and subject to the oversight, of the Board; and (b) must be responsible for all matters pertaining to the functions of the National Credit Regulator.’’; is accountable to the Board] 35 40 45 50 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 5 Ino. 19 Ka 2014 5 (f) ngokushutheka ngemuva kwencazelo ‘‘ukuthengiselana impahla’’ kwafakwa le ncazelo elandelayo: ‘‘ ‘ukukhokhela uphiko oluqoqa imali kumakhasimende’ kuchaza umuntu omele ikhasimende, ofake isicelo sokuba kubuyekezwe isikweleti ngokwemigomo yalo Mthetho, ahambise imali ekhokhwayo kulowo ohlinzekela ngesikweleti ngokwemigomo yamalungiselelo esikweleti, noma isivumelwano;’’; umyalelo wenkantolo, umyalelo weNkundla (g) ngokufaka endaweni yencazelo ‘‘ukuziphatha ngendlela engafanele’’ kwafakwa le ncazelo elandelayo: ‘‘ ‘ukuziphatha ngendlela engafanele’ kucaza ukuziphatha noma isenzo sokwaphula lo Mthetho[, okungesona isenzo noma ukwenza okuyicala ngaphansi kwalo Mthetho, okwenziwa— (a) umuntu ongabhalisile okufanele ngabe ukubhalisele ukwenza lokhu; noma (b) onikezela ngesikweleti, isikhungo sezikweleti noma umluleki wezikweleti];’’; futhi (h) ngokufaka endaweni yencazelo ‘‘imalimboleko enesibambiso’’ endimeni (b) le ndima elandelayo: ‘‘(b) ukugcina, noma ukwamukela isifungo [noma ukunikezela ngobunikazi] bempahla ephathekayo noma ngenye into enenani eyisibambiso semali okufanele ikhokhwe ngaphansi kwaleso sivumelwano;’’. Ukuchibiyela isigaba se-17 soMthetho wama-34 wezi-2005

Section 4Verify source

§ 2Ngakho-ke isigaba se-17 soMthethongqangi sichitshiyelwe—Amendment

This section amends section 17 so the National Credit Regulator must, among other things, notify the Secretary of Banks within the agreed time for a bank investigation.

2. Ngakho-ke isigaba se-17 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana sesi-(4) emagameni andulela indima (a) lawa magama alandelayo: ‘‘UMlawuli weziKweleti kaZwelonke [anga] kufanele—’’; (b) ngokufaka endaweni yesigatshana sesi-(4)(b) emagameni andulela indimana (i) lawa magama alandelayo: ‘‘(b) [ukubonisana ngezivumelwano] ukwenza isivumelwano nophiko olulawulayo—’’; (c) ngokususa esigatshaneni sesi-(4) igama ‘‘kanye’’ ekupheleni kwendima (c); (d) ngokushutheka esigatshaneni sesi-(4) igama ‘‘kanye’’ ekupheleni kwendima (d); (e) ngokwengeza esigatshaneni sesi-(4) le ndima elandelayo: ‘‘(e) azise uNobhala wamaBhange oqokwe ngokwemigomo ye-Banks Act, 1990 (Act No. 94 of 1990), singakapheli isikhathi okuvunye- lwene ngaso, ngezinjongo zayo zokuphenya ibhange njengoba kuchaziwe i-Banks Act, 1990.’’; futhi (f) ngokufaka endaweni yesigatshana sesi-(5) sendima (a) le ndima elandelayo: ‘‘(a) [angaxoxisana ngezivumelwano] kufanele enze isivumelwano noMlawuli weziKweleti kaZwelonke, njengoba kulindelekile esiga- tshaneni sesi[4](4)(b); futhi’’. 5 10 15 20 25 30 35 40 Ukuchithwa kwesigaba se-19, 20, 21, nama-22 zoMthetho wama-34 wezi-2005 45

Section 2Verify source

§ 3Ngakho-ke isigaba se-19, 20, 21, nama-22 zoMthethongqangi zichithiwe.Repeal

Sections 19, 20, 21 and 22 are repealed, and section 23 of Act 34 of 2005 is amended.

3. Ngakho-ke isigaba se-19, 20, 21, nama-22 zoMthethongqangi zichithiwe. Ukuchibiyela isigaba sama-23 soMthetho wama-34 wezi-2005

Section 3Verify source

§ 4Ngakho-ke isigaba sama-23 soMthethongqangi sichitshiyelwe—Amendment

The Chief Executive Officer is the accounting authority for the National Credit Regulator and may delegate some functions; the Minister may appoint a suitably qualified Deputy Chief Executive Officer.

4. Ngakho-ke isigaba sama-23 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana soku-(1) lesi sigatshana esilandelayo: ‘‘(1) UNgqongqoshe kufanele aqoke umuntu ofanele futhi abe nolwazi lomsebenzi wokuba uMphathi oMkhulu woMlawulu wezi- Kweleti kaZwelonke, [— (a) ngezeluleko, futhi nangokuphatha, eBhodini; futhi (b) abhekele iBhodi] kufanele abhekele izindaba eziphathelene nemisebenzi yoMlawuli weziKweleti kuZwelonke.’’; 50 55 6 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 6 (b) by the deletion of subsection (2); and (c) by the addition of the following subsections: ‘‘(3) The Chief Executive Officer is the accounting authority for the National Credit Regulator, and as such is responsible for— (a) all income and expenditure of the National Credit Regulator; (b) all revenue collected by the National Credit Regulator; (c) all assets, and the discharge of all duties and liabilities of the National Credit Regulator; and (d) proper and diligent implementation of this Act in order to achieve the objects stipulated in this Act. (4) The Chief Executive Officer may— (a) assign management and other duties to employees with appropriate skills to assist the National Credit Regulator in the management, or control of the National Credit Regulator; and (b) delegate, with or without conditions, any of the powers or functions of the Chief Executive Officer to any suitably qualiﬁed employee of the National Credit Regulator, but such delegation does not divest the Chief Executive Officer of responsibility for the exercise of any power or performance of any duty. (5) The Minister may appoint a person who is suitably qualiﬁed and experienced, as a Deputy Chief Executive Officer to assist the Chief Executive Officer in carrying out the functions of the National Credit Regulator.’’. 5 10 15 20 Amendment of section 25 of Act 34 of 2005

Section 4Verify source

§ 5Section 25 of the principal Act is hereby amended by the substitution in subsectionSubstitution

The wording is amended to refer to the Chief Executive Officer or an employee duly authorised by the Chief Executive Officer.

5. Section 25 of the principal Act is hereby amended by the substitution in subsection 25 (1) for the words preceding paragraph (a) of the following words: ‘‘The Chief Executive Officer or any employee duly authorised by the Chief Executive Officer—’’. Amendment of section 26 of Act 34 of 2005

Section 5Verify source

§ 6Section 26 of the principal Act is hereby amended—Substitution

This section amends the Tribunal appointment rules and adds disqualification rules, plus powers for the Chief Executive and Minister.

6. Section 26 of the principal Act is hereby amended— (a) by the substitution for subsection (4) of the following subsection: ‘‘(4) To be eligible for appointment or designation as a member of the Tribunal, and to continue to hold that office, a person must— (a) not be subject to any disqualiﬁcation set out in subsection (5); and (b) have submitted to the Minister a written declaration stating that the person— (i) (ii) does not have any interests referred to in subsection is not disqualiﬁed in terms of subsection (5); and (b) by the addition of the following subsections: (5)(b).’’; and 30 35 40 (a) ‘‘(5) A person may not be a member of the Tribunal if that person— is an office-bearer of any party, movement, organisation or body of a partisan political nature; (b) personally or through a spouse, partner or associate— (i) has or acquires a direct or indirect ﬁnancial interest in a 45 registrant; or (ii) has or acquires an interest in a business or enterprise, which may conﬂict or interfere with the proper performance of the duties of a member of the Tribunal; (c) is an unrehabilitated insolvent or becomes insolvent and the insolvency results in the sequestration of that person’s estate; 50 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 7 Ino. 19 Ka 2014 7 (b) ngokususa isigatshana sesi-(2); futhi (c) ngokwengeza lesi sigatshana esilandelayo: ‘‘(3) UMphathi oMkhulu unegunya weziKweleti zikaZwelonke, futhi ubhekele— (a) yonke imali engenayo nezindleko zoMlawuli weziKweleti zika- lokwengamela uMlawuli Zwelonke; (b) yonke imali eyenziwe eqokwe uMlawuli weziKweleti zika- Zwelonke; (c) yonke impahla, nemisebenzi kanye nezikweleti zoMlawuli weziKweleti zikaZwelonke; futhi (d) nokusebenzisa loMthetho ngendlela efanele futhi enenkuthalo ukuze kuzuzwe izinjongo ezibalulwe kulo Mthetho. (4) UMphathi oMkhulu anga— (a) thwesa umsebenzi wokuphatha neminye imisebenzi kubasebenzi abanamakhono afanele ukuze basize uMlawuli weziKweleti zikaZwelonke; futhi (b) athwese ngemibandela noma ngaphandle kwemibandela, amandla noma imisebenzi yoMphathi oMkhulu kumsebenzi ofanele ongu- Mlawuli weziKweleti zikaZwelonke, kodwa ukuyidlulisa akuphuci uMphathi oMkhulu isibophezelo sokusebenzisa lawo mandla nokuqhuba lowo msebenzi. (5) UNgqongqoshe angaqoka umuntu ofanele futhi onolwazi lomsebenzi ukuba aphe iBamba loMphathi oMkhulu ukuba asize uMphathi oMkhulu ukuqhuba imisebenzi yoMlawuli weziKweleti zikaZwelonke.’’. 5 10 15 20 25 Ukuchibiyela isigaba sama-25 soMthetho wama-34 wezi-2005

Section 6Verify source

§ 5Ngakho-ke isigaba sama-25 soMthethongqangiAmendment

This section amends section 25 and section 26 of the cited law.

5. Ngakho-ke isigaba sama-25 soMthethongqangi sichitshiyelwe ngokufaka endaweni yesigatshana soku-(1) emagameni andulela indima (a) lawa magama alandelayo: ‘‘UMphathi oMkhulu noma umsebenzi ogunyazwe uMphathi oMkhulu—’’. 30 Ukuchibiyela isigaba sama-26 soMthetho wama-34 wezi-2005

Section 5Verify source

§ 6Ngakho-ke isigaba sama-26 soMthethongqangi sichitshiyelwe—Amendment

This section tightens Tribunal member eligibility, requires written disclosure of interests to the Minister, and restricts members from taking part in conflicted matters or using confidential information improperly.

6. Ngakho-ke isigaba sama-26 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana sesi-(4) isigatshana esilandelayo: ‘‘(4) Ukuze umuntu akwazi ukuqokwa noma ukuqashwa njengelungu leNkundla, futhi nokuqhubeka nokubamba leso sikhundla, lowo muntu kufanele— (a) kungabi umuntu ongafanele njengoba kuveziwe esigatshaneni sesi-(5); futhi (b) kube umuntu osethumele kuNgqongqoshe isiqiniseko esibhaliwe esiveza ukuthi lowo muntu— (i) akayena umuntu ongafanele ngokwemigomo yesigatshana sesi-(5); futhi (ii) akanayo intshisekelo evezwe esigatshaneni sesi-(5)(b).’’; futhi (b) ngokwenegza lezi zigatshana ezilandelayo: 35 40 45 ‘‘(5) Umuntu akufanele abe ilungu leNkundla uma lowo muntu— (a) enesikhundla eqenjini, emkhandlwini, enhlanganweni noma ega- tsheni elihambisana nezombusazwe; (b) yeba noma umlingani wakhe, noma asebenzisana naye— (i) wathola noma ethola inzuzo yezimali ngqo noma ngenye 50 indlela kulokho okubhalisiwe; noma (ii) athola noma ethola inzuzo ebhizinisini noma embonini, engenza kube nokushayisana kweziﬁso noma kube noku- ngenelela ekuqhutshweni kwemisebenzi ngendlela efanele kumalungu eNkundla; 55 (c) wamenyezelwa inkantolo njengomuntu osehlulekile ukukhokha izikweleti zakhe noma ehluleka ukukhokha izikweleti zakhe futhi lokho kuyimbangela yokuba kudliwe impahla yalowo muntu; 8 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 8 (d) has ever been, or is, removed from an office of trust on account of a guilty ﬁnding in respect of a complaint of misconduct related to fraud or the misappropriation of money; is subject to an order of a competent court holding that person to be mentally unﬁt or disordered; (e) (f) within the previous 10 years has been, or is, convicted in the Republic or elsewhere of theft, fraud, forgery or uttering a forged document, perjury, an offence under the Prevention and Combating of Corrupt Activities Act, 2004 (Act No. 12 of 2004), an offence under the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001), or an offence involving dishonesty; or (g) has been convicted of any other offence committed after the Constitution of the Republic of South Africa, 1996, took effect, and sentenced to imprisonment without the option of a ﬁne. (6) For the purpose of subsection (5)(b), a ﬁnancial interest does not include an indirect interest held in any fund or investment if the person contemplated in that subsection has no control over the investment decisions of that fund or investment. (7) A member of the Tribunal must promptly inform the Minister in writing after acquiring an interest that is, or is likely to become, an interest contemplated in subsection (5)(b). (8) A member of the Tribunal must not— (a) engage in any activity that may undermine the integrity of the Tribunal; (b) attend, participate in or inﬂuence the proceedings of the Tribunal, if, in relation to the matter before the Tribunal, that member has an interest— (i) (ii) contemplated in subsection (5)(b); or that precludes that member from performing the functions of a member of the Tribunal in a fair, unbiased and proper manner; (c) make private use of, or proﬁt from, any conﬁdential information obtained as a result of performing that person’s functions as a member of the Tribunal; or (d) divulge any information referred to in paragraph (c) to any third party, except as required as part of that person’s official functions as a member of the Tribunal. (9) If, at any time, it appears to a member of the Tribunal that a matter being considered by the Tribunal during proceedings concerns an interest of that member referred to in subsection (8)(b), that member must— (a) immediately and fully disclose the nature of that interest to the members present; and (b) withdraw from the proceedings to allow the remaining members to discuss the matter and determine whether the member should be prohibited from participating in any further proceedings concerning that matter. (10) The disclosure by a member of the Tribunal in terms of subsection (9)(a), and the decision by the Tribunal in terms of subsection (9)(b), must be expressly recorded in the records of the proceedings in question. (11) Proceedings of the Tribunal, and any decisions taken by a majority of the members present and entitled to participate in those decisions, are binding despite— (a) a member of the Tribunal failing to disclose an interest as required by subsection (9); or 5 10 15 20 25 30 35 40 45 50 (b) a member of the Tribunal, having an interest, attending or 55 participating in those proceedings.’’. Amendment of section 29 of Act 34 of 2005

Section 6Verify source

§ 7Section 29 of the principal Act is hereby amended by the substitution in subsectionSubstitution

Tribunal members must disclose relevant benefits, step back from related matters, and keep Tribunal information confidential.

7. Section 29 of the principal Act is hereby amended by the substitution in subsection (5) for paragraph (a) of the following paragraph: ‘‘(a) must remove the Chairperson or any other member of the Tribunal from office if that person becomes subject to any of the disqualiﬁcations referred to in section [20(2)] 26(5); and’’. 60 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 9 Ino. 19 Ka 2014 9 (f) (e) eli-10 walahlwa (d) wake wakhishwa noma ekhishiwe esikhundleni ngoba watholwa enecala lokungaziphathi kahle okuhambisana nenkohlakalo noma ukukhwabanisa izimali; esalinde umyalelo enkantolo efanele ozomemezela ukuthi lowo muntu akaphilile kahle ekhanda noma uphazamisekile; eminyakeni icala eRiphabhuliki noma kwenye indawo lokuntshontsha, ukukhwa- banisa, ukuguqula okubhaliwe, ukuqamba amanga efungile, icala elingaphansi kwe- Combating of Corrupt Activities Act, 2004 (Act No. 12 of 2004), icala ngaphansi kwe-Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001), noma icala eliphathelene nokungathembeki; noma (g) walahlwa elinye icala ngemuva kokuqala ukusebenza koMthe- thosisekelo waseRiphabhuliki yaseNingizimu Afrika, 1996, waboshwa wanganikezwa ithuba lokuba akhokhe inhlawulo. imifanekiso engeyiyo ukwenza elahlwe noma noma icala, (6) Ngokwesigatshana sesi-(5)(b), inzuzo yemali ayibandakanyi inzuzo etholwe ngenye indlela esikhwameni noma emalini etshaliwe uma umuntu ovezwe kuleso sigatshana engalawuli isinqumo semali etshaliwe nama yaleso sikhwama. (7) Ilungu loNkundla kufanele ngokushesha lazise uNgqongqoshe ngokubhalwe phansi ngemuva kokuthola inzuzo, noma uma lizothola inzuzo evezwe esigatshaneni sesi-(5)(b). (8) Ilungu leNkundla akufanele— (a) (b) (c) (d) ungabukela nomsebenzi lizibandakanye beNkundla yeziKweleti zikaZwelonke; lithamele, lizibandakanye noma lichaphazele okuqhutshwa iNku- ndla, uma, odabeni oludingidwa iNkundla, lelo lungu linenzuzo eliyitholayo— ubuqotho phansi (i) evezwe esigatshaneni sesi-(5)(b); noma (ii) oluvimbela lelo lungu ukuba liqhube imisebenzi yobulungu 30 beNkundla ngendlela efanele, engacwasi futhi engachemile; lisebenzise ngasese, inzuzo, imininingwane eyimﬁhlo eliyithole ngesikhathi liqhuba imisebenzi njengelungu leNkundla; noma lidalule imininingwane evezwe endimeni (c) kumuntu wesithathu, ngaphandle uma kufanele njengengxenye yalelo lungu yokuqhuba imisebenzi yeNkundla. (9) Nomanini uma, libona ukuthi udaba ilungu leNkundla oludingidwa iNkundla luthinta inzuzo yalelo lungu evezwe esiga- tshaneni sesi-(8)(b), lelo lungu kufanele— (a) ngokushesha lidalule ngokugcwele umsuka wenzuza kumalungu (b) akhona; futhi lihoxe kokudingidwayo ukuze linikeza amalungu akhona ithuba lokudingida udaba futhi anqume ukuthi ngabe lelo lungu kufanele linqatshelwe ukuba ingxenye yalokho okudingidwayo esikhathini esizayo. (10) Okudalulwe ilungu leNkundla ngokwemigomo yesigatshana sesi-(9)(a), kanye nesinqumo seNkundla ngokwemigomo yesigatshana sesi-(9)(b), kufanele kurikhodwe kumarekhodi alokho obekwenziwa. (11) Okuqhutshwa iNkundla, nesinqumo esithathwe amalungu amaningi akhona anelungelo lokuthatha leso sinqumo, kuyisibophezelo ngaphandle uma— (a) ilungu leNkundla lihluleka ukudalula inzuzo njengoba kufanele ngokwesigatshana sesi-(9); noma ilungu leNkundla elinenzuzo, lithamele noma liyingxenye yalokhu okudingidwayo.’’. (b) Ukuchibiyela isigaba sama-29 soMthetho wama-34 wezi-2005

Section 7Verify source

§ 7Ngakho-ke isigaba sama-29 soMthethongqangi sichitshiyelwe ngokufaka enda-Amendment

This section amends section 29 of the principal Act by adding a rule that a Chairperson or other Tribunal member must be removed from office if they are no longer fit as stated in the referenced sections.

7. Ngakho-ke isigaba sama-29 soMthethongqangi sichitshiyelwe ngokufaka enda- weni yesigatshana sesi-(5) sendima (a) le ndima elandelayo: ‘‘(a) kufanele asuse uSihlalo noma elinye ilungu leNkundla esikhundleni uma kungasafanele njengoba kuveziwe esigabeni sama-[20(2)] 26(5); futhi’’. 60 5 10 15 20 25 35 40 45 50 55 10 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 Amendment of section 32 of Act 34 of 2005 10

Section 7Verify source

§ 8Section 32 of the principal Act is hereby amended by the substitution in subsectionSubstitution

If a Tribunal member participating in a hearing thinks the matter concerns that member’s financial or other interest under section 26(5)(b), the member must do something further, but the excerpt cuts off before the requirement is stated.

8. Section 32 of the principal Act is hereby amended by the substitution in subsection (2) for the words preceding paragraph (a) of the following words: ‘‘(2) If, during a hearing in which a member of the Tribunal is participating, it appears to that member that the matter concerns a ﬁnancial or other interest of that member contemplated in section [20(2)(b)] 26(5)(b), that member must—’’. 5 Substitution of section 34 of Act 34 of 2005

Section 8Verify source

§ 9The following section is hereby substituted for section 34 of the principal Act:Substitution

The Minister may, after consulting the Minister of Finance, set remuneration and employment terms for Tribunal members. A member’s salary, allowances, or benefits cannot be reduced during the member’s term of office.

9. The following section is hereby substituted for section 34 of the principal Act: ‘‘Remuneration and beneﬁts 34. (1) The Minister may, in consultation with the Minister of Finance, determine salary, allowances, beneﬁts or any other terms and conditions of employment for members of the Tribunal. (2) The salary, allowances or beneﬁts of a member of the Tribunal may not be reduced during the term of office of such a member.’’. Amendment of section 40 of Act 34 of 2005 10 15

Section 9Verify source

§ 10Section 40 of the principal Act is hereby amended by the substitution forSubstitution

A person must apply to be registered as a credit provider when the stated agreement or debt threshold is met.

10. Section 40 of the principal Act is hereby amended by the substitution for subsection (1) of the following subsection: ‘‘(1) A person must apply to be registered as a credit provider if [— (a) that person, alone or in conjunction with any associated person, is the credit provider under at least 100 credit agreements, other than incidental credit agreements; or 20 (b)] the total principal debt owed to that credit provider under all outstanding credit agreements, other than incidental credit agree- ments, exceeds the threshold prescribed in terms of section 42(1).’’. Amendment of section 42 of Act 34 of 2005

Section 10Verify source

§ 11Section 42 of the principal Act is hereby amended by the substitution forSubstitution

The Minister must set a threshold by notice in the Gazette for deciding when a credit provider must register.

11. Section 42 of the principal Act is hereby amended by the substitution for subsection (1) of the following subsection: ‘‘(1) [On the effective date, and at intervals of not more than ﬁve years, the] The Minister, by notice in the Gazette, must determine a threshold [of not less than R500 000,] for the purpose of determining whether a credit provider is required to be registered in terms of section 40(1).’’. Insertion of section 44A in Act 34 of 2005

Section 11Verify source

§ 12The following section is hereby inserted in the principal Act after section 44:Provision

A person may apply to the National Credit Regulator to register as a payment distribution agent, but may not offer those services unless registered. Consumers are not required to use such a service.

12. The following section is hereby inserted in the principal Act after section 44: 25 30 ‘‘Registration of payment distribution agents 44A. (1) A person may apply to the National Credit Regulator to be 35 registered as a payment distribution agent. (2) (a) A person must not offer or engage in the services of a payment distribution agent, or hold themselves out to the public as being authorised to offer any such service, unless that person is registered as a payment distribution agent in terms of this Chapter. (b) A consumer is not obliged to make use of the services of a payment 40 distribution agent. GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 11 Ino. 19 Ka 2014 11 Ukuchibiyela isigaba sama-32 soMthetho wama-34 wezi-2005

Section 12Verify source

§ 8Ngakho-ke isigaba sama-32 soMthethongqangiAmendment

This provision amends section 32 by replacing the introductory words of subsection (2), and it refers to a change to section 34 of Act 34 of 2005.

8. Ngakho-ke isigaba sama-32 soMthethongqangi sichitshiyelwe ngokufaka endaweni yesigatshana sesi-(2) emazwini andulela indima (a) lawa mazwi alandelayo: ‘‘(2) Uma, ngesikhathi kusalalelwe udaba lelo lungu leNkundla liyingxenye yalo, kuvela kulelo lungu ukuthi lolo daba luthinta imali noma inzuzo yalelo lungu elivezwe esigabeni sama-[20(2)(b)] 26(5)(b), lelo lungu kufanele—’’. Ukushintsha isigaba sama-34 soMthetho wama-34 wezi-2005

Section 8Verify source

§ 9Ngakho-ke lesi sigaba esilandelayo sitshintshiwe esigabeni sama-34 soMthe-Provision

The Minister may decide the pay, allowances, benefits, and other employment conditions for members of the Court, after consulting the Minister of Finance.

9. Ngakho-ke lesi sigaba esilandelayo sitshintshiwe esigabeni sama-34 soMthe- thongqangi: ‘‘Amaholo kanye nenzuzo 34. (1) UNgqongqoshe, ngokuxoxisana noNgqongqoshe wezeziMali, anganquma umholo, izibonelelo, inzuzo noma eminye imigomo nemi- bandela yokuqashwa kwamalungu eNkundla. (2) Umholo, izibonelelo noma inzuzo yamalungu eNkundla ngeke kuhliswe uma lelo lungu lisaqhuba umsebenzi.’’. Ukuchibiyela isigaba sama-40 soMthetho wama-34 wezi-2005

Section 9Verify source

§ 10Ngakho-ke isigaba sama-40 soMthethongqangi sichitshiyelwe ngokufaka enda-Provision

A person must apply to be registered as a credit provider when the stated credit activity or debt threshold is met.

10. Ngakho-ke isigaba sama-40 soMthethongqangi sichitshiyelwe ngokufaka enda- weni yesigatshana soku-(1) lesi sigatshana esilandelayo: ‘‘(1) Umuntu kufanele afake isicelo sokubhaliswa njengonikezela ngesikweleti uma [— (a) lowo muntu, ngokwakhe noma ehlangene nabanye abantu abaxhumene, enikezela ngesikweleti ngaphansi kwezivumelwano zezikweleti ezinga- phansi kwe-100, okungezona lezo zivumelwano ezihambisana nalezo; noma (b)] isikweleti sesihlangene saleyo mali ekweletwa onikezela ngesikweleti ngaphansi kwazo zonke izivumelwano zezikweleti ezisasele, ngaphandle kwezivumelwane zezikweleti ezihambisana nazo, zidlula inani elinqunyiwe esigabeni sama-42(1).’’. Ukuchibiyela isigaba sama-42 soMthetho wama-34 wezi-2005 5 10 15 20 25

Section 10Verify source

§ 11Ngakho-ke isigaba sama-42 soMthethongqangi sichitshiyelwe ngokufaka enda-Provision

The Minister must, by notice in the Gazette, set an amount of at least R500,000 for deciding whether a credit provider must be registered, and must do so within a determined date and no later than five years.

11. Ngakho-ke isigaba sama-42 soMthethongqangi sichitshiyelwe ngokufaka enda- 30 weni yesigatshana soku-(1) lesi sigatshana esilandelayo: ‘‘(1) [Ngosuku olunqunyiwe, futhi ngemikhawulo engadlulile eminyakeni emihlanu] UNgqongqoshe kufanele asebenzise isaziso kuSomqulu, ukunquma isamba [esingekho ngaphansi kwama-R500 000,] ngenjongo yokunquma ukuthi onikezela ngesikweleti kufanele yini abhaliswe ngokwemigomo yesigaba sama- 40(1).’’. 35 Ukushutheka isigaba sama-44A soMthetho wama-34 wezi-2005

Section 11Verify source

§ 12Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuvaCommencement

People may apply to register as payment distribution agents, but unregistered people must not carry on that activity or present themselves as authorised. Registered agents must keep fidelity insurance and trust accounts and provide financial accounts when reasonably required by the National Credit Regulator.

12. Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuva kwesigaba sama-44: ‘‘Ukubhaliswa kwezithunywa eziqoqa imali kumakhasimende 40 44A. (1) Umuntu angafaka isicelo kuMlawuli weziKweleti kaZwelonke ukubhalisa njengesithunywa esiqoqa imali kumakhasimende. (2) (a) Umuntu akufanele anikezele noma azibandakanye nemisebenzi yezithunywa eziqoqa imali kumakhasimende, noma aziveze emphakathini njengogunyaziwe ukunikezela ngalolu sizo, ngaphandle uma lowo muntu ebhalisiwe ngokwemigomo yalesi Sahluko. (b) Ikhasimende alibophezelekile ukusebenzisa usizo lophiko oluqoqa 45 izikweleti kumakhasimende. 12 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 12 (3) In addition to the requirements of section 46, an applicant for registration as a payment distribution agent must satisfy any prescribed education, experience or competency requirements. (4) Payment distribution agents must— (a) maintain ﬁdelity insurance and trust accounts; and (b) submit such ﬁnancial accounts as may reasonably be required by the National Credit Regulator for purposes of a ﬁnancial audit. (5) No credit provider shall have any direct or indirect interest which is inconsistent with the objects of this Act, in the management or control of the business operations of a payment distribution agent or debt counselling business. (6) Any natural or juristic person who operated as a payment distribution agent prior to the commencement of the National Credit Amendment Act, 2014, must comply with subsection (1) within a period of 12 months from the date of commencement.’’. Amendment of section 45 of Act 34 of 2005

Section 12Verify source

§ 13Section 45 of the principal Act is hereby amended—Substitution

The National Credit Regulator must register an applicant who meets the Act’s registration criteria, unless disqualifying grounds are found after the required test. The Minister may set criteria for the test, registration, registrant duties, and fees.

13. Section 45 of the principal Act is hereby amended— (a) by the substitution for subsection (3) of the following subsection: ‘‘(3) If an application complies with the provisions of this Act and the applicant meets the criteria set out in this Act for registration, the National Credit Regulator, after considering the application, must register the applicant [,] subject to section 48 unless the National Credit Regulator after subjecting the applicant to a ﬁt and proper test or any other prescribed test, is of the view that there are other compelling grounds that disqualify the applicant from being registered in terms of this Act.’’; and (b) by the addition of the following subsections: ‘‘(4) The Minister may prescribe the criteria to be considered in conducting a ﬁt and proper test contemplated in subsection (3). (5) The Minister may prescribe— the criteria for registration; the duties and obligations of a registrant; and the fees that may be charged by a registrant.’’. (a) (b) (c) Amendment of section 46 of Act 34 of 2005

Section 13Verify source

§ 14Section 46 of the principal Act is hereby amended—Substitution

A natural person cannot be registered as a credit provider, debt counsellor, or payment distribution agent if that person is an unrehabilitated insolvent.

14. Section 46 of the principal Act is hereby amended— (a) by the substitution for subsection (2) of the following subsection: 5 10 15 20 25 30 35 ‘‘(2) A natural person may not be registered as a credit provider, debt counsellor or payment distribution agent if that person is an unrehabili- tated insolvent.’’; and (b) by the substitution in subsection (3) for the words preceding paragraph (a) of 40 the following words: ‘‘(3) A natural person may not be registered as a credit provider [or], debt counsellor, or payment distribution agent, if that person—’’. Amendment of section 48 of Act 34 of 2005

Section 14Verify source

§ 15Section 48 of the principal Act is hereby amended—Substitution

The National Credit Regulator must apply additional criteria to an application if the person qualifies to be registered as a credit provider.

15. Section 48 of the principal Act is hereby amended— (a) by the substitution in subsection (1) for the words preceding paragraph (a) of the following words: ‘‘If a person qualiﬁes to be registered as a credit provider, the National Credit Regulator must further [consider the application, relating to] apply the following criteria in respect of the application:’’; 45 50 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 13 Ino. 19 Ka 2014 13 (3) Ukwengeza kuzimfanelo zesigaba sama-46, ofake isicelo soku- imali kumakhasimende kufane lomsebenzi noma nolwazi bhaliswa njengesithunywa ahlangabezane nezimfanelo zeziqu, ulwazi olunqunyiwe. esiqoqa (4) Uphiko olukhokha izikweleti kufanele— (a) (b) lube nomshwalensi othembekile nama-akhawuntu okulondoloza; futhi luthumele weziKweleti zikaZwelonke ukuze ucubungulwe ngokwezimali. lawo ma-akhawunti uMlawuli adingwa ezimali (5) Akekho umuntu onikezela ngesikweleti okufanele abe nenzuzo engahambisana nezinjongo zalo Mthetho, ngokuphatha noma ukulawula ukusebenza kwebhizinisi kophiko olukhokha izikweleti. (6) Umuntu noma igatsha osebenza njengegatsha elikhokha izikweleti ngaphambi kokuqala ukusebenza koMthetho kaZwelonke weziKweleti, wezi- 2014, kufanele alandele isigatshana soku-(1) zingakapheli izinyanga eziyu-12 kusukela ngosuku owaqala ngalo ukusebenza.’’. Ukuchibiyela isigaba sama-45 soMthetho wama-34 wezi-2005

Section 15Verify source

§ 13Ngakho-ke isigaba sama-45 soMthethongqangi sichitshiyelwe—Amendment

This section amends section 45 to require the National Credit Regulator to register an applicant who meets the Act’s requirements, unless prescribed integrity or other checks, or an investigation, show the applicant is not fit to register.

13. Ngakho-ke isigaba sama-45 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana sesi-(3) lesi sigatshana esilandelayo: ‘‘(3) Uma isicelo silandele imibandela yalo Mthetho futhi ofake isicelo ehlangabezana nenqubo evezwe kulo Mthetho yokubhalisa, uMlawuli weziKweleti kaZwelonke, ngemuva kokucubungula isicelo, kufanele abhalise ofake isicelo [,] ngokulandela isigaba sama-48 ngaphandle uma uMlawuli weziKweleti kaZwelonke ngemuva kokuhlola ubuqotho noma olunye uhlobo lokuhlola okunqunyiwe; noma uma esenze uphenyo, wabona ukuthi kunezizathu ezenza ofake isicelo kungafanele afake isicelo futhi ezenza lowo ofake isicelo ukuba abe ngumuntu ongafanele ukubhalisa ngokwemigomo yalo Mthetho.’’; futhi 5 10 15 20 25 (b) ngokwengeza lezi zigatshana ezilandelayo: ‘‘(4) UNgqongqoshe anganquma inqubo ezolandelwa ukunquma 30 abafanele nabalungele abavezwe esigatshanenii sesi-(3). (5) UNgqongqoshe anganquma— inqubo yokubhalisa; imisebenzi nezibophezelo zababhalisayo; kanye (a) (b) (c) nemali engakhokhwa ababhalisayo.’’. Ukuchibiyela isigaba sama-46 soMthetho wama-34 wezi-2005

Section 13Verify source

§ 14Ngakho-ke isigaba sama-46 soMthethongqangi sichitshiyelwe—Provision

A person may not register as a credit provider, debt counsellor, or debt collector if a court has declared that person insolvent.

14. Ngakho-ke isigaba sama-46 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana sesi-(2) lesi sigatshana esilandelayo: ‘‘(2) Umuntu ngeke abhalise njengomuntu ohlinzekela ngesikweleti, umeluleki wezikweleti noma oqoqa imali kumakhasimende uma lowo muntu wamenyezelwa inkantolo njengosehlulekile ukukhokha izikwe- leti.’’; futhi (b) ngokufaka endaweni yesigatshana sesi-(3) emagameni andulela indima (a) lawa magama alandelayo: ‘‘(3) Umuntu ngeke abhalise njengomuntu ohlinzekela ngesikweleti [noma], umeluleki wezikweleti, noma oqoqa imali kumakhasimende, uma lowo muntu—’’. 35 40 45 Ukuchibiyela isigaba sama-48 soMthetho wama-34 wezi-2005

Section 14Verify source

§ 15Ngakho-ke isigaba sama-48 soMthethongqangi sichitshiyelwe—Substitution

The Minister may prescribe criteria and measures for deciding affordability assessments under this section.

15. Ngakho-ke isigaba sama-48 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana soku-(1) emagameni andulela indima (a) 50 lawa magama alandelayo: ‘‘Uma umuntu ekufanele ukubhaliswa njengonikezela ngesikweleti, uMlawuli kaZwelonke weziKweleti kufanele futhi [abheke isicelo, esihambisana] asebenzise le nqubo elandelayo kuleso sicelo:’’; 14 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 14 (b) by the substitution in subsection (1) for paragraph (b) of the following paragraph: ‘‘(b) the commitments, if any, made by the applicant or any associated person in connection with combating over-indebtedness and compliance with a prescribed code of conduct as well as affordability assessment regulations made by the Minister on the recommendation of the National Credit Regulator [, including whether the applicant or any associated person has subscribed to any relevant industry code of conduct approved by a regulator or regulatory authority]; and’’; and 5 10 (c) by the addition of the following subsection: ‘‘(1A) The Minister may prescribe criteria and measures to determine the outcome of affordability assessments provided for in this section.’’. Insertion of section 48A in Act 34 of 2005

Section 15Verify source

§ 16The following section is hereby inserted in the principal Act after section 48:Amendment

The Minister can prescribe a code of conduct only after the National Credit Regulator completes consultation and comment steps. The Regulator must monitor code effectiveness, may require information for that purpose, and registrants must not breach an applicable code in ordinary business.

16. The following section is hereby inserted in the principal Act after section 48: 15 ‘‘Code of Conduct 48A. (1) The Minister may prescribe a code of conduct contemplated in section 48(1)(b), only after the National Credit Regulator has— (a) published the proposed code of conduct for public comment; (b) considered any submissions made during the public comment period; (c) consulted with— (i) persons conducting business within the relevant industry; and (ii) relevant accredited persons; and (d) made any revisions to the proposed industry code as published for comment. (2) A code of conduct must be consistent with the purposes of this Act. (3) The National Credit Regulator— (a) must monitor the effectiveness of any code of conduct issued in terms of this Act; and (b) may reasonably require persons conducting business within the relevant industry to provide information necessary for the purposes of— (i) monitoring in terms of paragraph (a); or (ii) reviewing the effectiveness of a prescribed code of conduct relative to the purposes of this Act. (4) A registrant must not, in the ordinary course of business, contravene an applicable code of conduct as contemplated in section 48(1)(b).’’. 20 25 30 35 Amendment of section 49 of Act 34 of 2005

Section 16Verify source

§ 17Section 49 of the principal Act is hereby amended—Substitution

This section amends section 49 of the principal Act by changing the wording of subsection (1) and adding a new paragraph.

17. Section 49 of the principal Act is hereby amended— (a) by the deletion in subsection (1) of the word ‘‘or’’ at the end of paragraph (c); (b) by the substitution in subsection (1) for the full stop at the end of paragraph (d) 40 of the following words ‘‘; or’’; and (c) by the addition in subsection (1) of the following paragraph: ‘‘(e) if the National Credit Regulator, on compelling grounds, deems it necessary for the attainment of the purposes of this Act and efficient enforcement of its functions.’’. 45 Amendment of section 51 of Act 34 of 2005

Section 17Verify source

§ 18Section 51 of the principal Act is hereby amended—Amendment

This section amends section 51 so that applicants, or people accompanying them, may have obligations tied to debt-combating measures and prescribed conduct rules, and the Minister may set the procedure and measures for deciding the affordability assessment outcome.

18. Section 51 of the principal Act is hereby amended— (a) by the deletion in subsection (1) of the word ‘‘and’’ at the end of paragraph (b); GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 15 Ino. 19 Ka 2014 15 (b) ngokufaka endaweni yesigatshana soku-(1) sendima (b) lezi zindima ezilandelayo: ‘‘(b) izibophezelo, uma zikhona, ezenziwe ofake isicelo noma oha- mbisana nofake isicelo ezimayelana nokulwisana nesikweleti kanye nokulandela inkambiso yokuziphatha enqunyiwe nezimiso zo- mthetho zamandla ahloliwe ezimiswe uNgqongqoshe ngokulandela iziphakamiso zoMlawuli weziKweleti zikaZwelonke [, kubalwa nokuthi ngabe ofake isicelo noma umuntu ohambisana nofake isicelo uyayilandela inkambiso yokuziphatha egunyazwe umlawuli noma umkhandlu olawulayo]; futhi’’; kanye 5 10 (c) ngokwengeza lesi sigatshana esilandelayo: ‘‘(1A) UNgqongqoshe anganquma inqubo nezinyathelo ukuze anqume umphumela wokuhlolwa kwamandla okuthenga ovezwe kulesi sigaba.’’. Ukushutheka isigaba sama-48A kuMthetho wama-34 wezi-2005

Section 18Verify source

§ 16Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuvaProvision

The Minister may determine a code of conduct only after the National Credit Regulator has completed the listed consultation and review steps. The Regulator must monitor the code, may ask industry participants for relevant information, and the secretary must not breach the applicable code in ordinary business.

16. Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuva 15 kwesigaba sama-48: ‘‘Inkambiso yokuziphatha 48A. (1) UNgqongqoshe anganquma inkambiso yokuziphatha evezwe esigabeni sama-48(1)(b), kuphela uma uMlawuli weziKweleti zika- Zwelonke ese— (a) shicilele inkambiso yokuziphatha ehlongozwayo ukuze umphakathi uphawule; (b) cubungule izethulo ezethuliwe ngesikhathi kulalelwe imibono yo- mphakathi; (c) xhumene— 20 25 (i) nabantu abaqhuba ibhizinisi kuleyo mboni eqondene; kanye (ii) nabantu abaqondene abagunyaziwe; futhi (d) buyekeze inkambiso yezimboni ehlongozwayo eshicilelwe ukuze kutholwe imibono. (2) Inkambiso yokuziphatha kufanele ihambisane nezinjongo zalo 30 Mthetho. (3) UMlawuli weziKweleti zikaZwelonke— (a) kufanele aqaphe ukusebenza kwenkambiso yokuziphatha ekhishwe ngokwemigomo yalo Mthetho; futhi (b) angacela abantu uma kufanele abaqhuba ibhizinisi kuleyo mboni eqondene ukuba bahlinzekele ngemininingwane efanele ukuze— 35 (i) kuqashwe ngokwemigomo yendima (a); noma (ii) ukubuyekezwa kokusebenza kwenkambiso yokuziphatha eha- mbisana nezinjongo zalo Mthetho. (4) Unobhala uma kuqhutshwa ibhizinisi ngendlela ejwayelekile, akufanele aphule inkambiso yokuziphatha esebenzayo njengoba kuveziwe esigabeni sama-48(1)(b).’’. 40 Ukuchibiyela isigaba sama-49 soMthetho wama-34 wezi-2005

Section 16Verify source

§ 17Ngakho-ke isigaba sama-49 soMthethongqangi sichitshiyelwe—Amendment

This provision amends section 49 and introduces a new paragraph allowing action where the National Credit Regulator considers it necessary, for compelling reasons, to achieve the Act’s purposes and perform its functions.

17. Ngakho-ke isigaba sama-49 soMthethongqangi sichitshiyelwe— (a) ngokususa esigatshaneni soku-(1) igama ‘‘kanye’’ ekupheleni kwendima (c); (b) ngokushutheka esigatshaneni soku-(1) kungqi ekupheleni kwendima (d) 45 kwafakwa lawa magama alandelayo ‘‘; noma’’; futhi (c) ngokwengeza isigatshana soku-(1) sale ndima elandelayo: ‘‘(e) uma uMlawuli weziKweleti zikaZwelonke, futhi kunezizathu eziphoqayo, ebona ukuthi kufanele ukuze kufezwe izinjongo zalo Mthetho futhi nokubophezela imisebenzi yakhe.’’. 50 Ukuchibiyela isigaba sama-51 soMthetho wama-34 wezi-2005

Section 17Verify source

§ 18Ngakho-ke isigaba sama-51 soMthethongqangi sichitshiyelwe—Amendment

Section 51 is amended to require the National Credit Regulator to impose a penalty for late renewal of registration on a registrant who does not pay prescribed renewal fees within 30 days after they become payable.

18. Ngakho-ke isigaba sama-51 soMthethongqangi sichitshiyelwe— (a) ngokususa esigatshaneni soku-(1) igama ‘‘futhi’’ ekupheleni kwendima (b); 16 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 16 (b) by the insertion in subsection (1) of the word ‘‘and’’ at the end of paragraph (c); and (c) by the addition in subsection (1) of the following paragraph: ‘‘(d) a penalty for late renewal of registration by registrants which must be imposed by the National Credit Regulator on a registrant who fails to pay his or her prescribed registration renewal fees within 30 days from the date on which such fees were payable.’’. Amendment of section 52 of Act 34 of 2005

Section 18Verify source

§ 19Section 52 of the principal Act is hereby amended by the substitution in subsectionSubstitution

The amended rule says a registration stays in force until the registrant is deregistered, the registration is cancelled under the Act, or it lapses when the renewal fee was not paid on time.

19. Section 52 of the principal Act is hereby amended by the substitution in subsection (4) for paragraph (b) of the following paragraph: ‘‘(b) [subject to timely payment of the prescribed registration renewal fees,] remains in effect until— (i) (ii) (iii) the registrant is deregistered; [or] the registration is cancelled in terms of this Act[.]; or it has lapsed on the last day upon which the prescribed renewal fee should have been paid in terms of section 51(1)(c).’’. Insertion of section 58A in Act 34 of 2005

Section 19Verify source

§ 20The following section is hereby inserted in the principal Act after section 58:Amendment

A registrant or credit provider who asks to cancel registration must file specified notices, affidavits, certificates, and proof of notification with the National Credit Regulator.

20. The following section is hereby inserted in the principal Act after section 58: 5 10 15 ‘‘Additional requirements for cancellations 58A. (1) A registrant who voluntarily requests that his or her registration 20 be cancelled must— (a) submit a notice in the prescribed manner and form, and an affidavit to the National Credit Regulator, stating— (i) (ii) (iii) the registrant’s intention to voluntarily cancel his or her registration; reasons for such cancellation; and the date on which the cancellation shall take effect; (b) attach to the said notice proof that all the affected consumers, credit providers and all credit bureaux have been notiﬁed about the intended cancellation; and attach to the said notice the registration certiﬁcate issued to that registrant by the National Credit Regulator. (c) (2) A registrant whose registration has been cancelled in accordance with subsection (1) must, in the prescribed manner and form, submit an affidavit to the National Credit Regulator stating that the consumers referred to subsections (1)(b) have been transferred to another registrant chosen by the consumer. (3) A credit provider who voluntarily requests that his or her registration be cancelled shall, in the prescribed manner and form, submit a cancellation notice to the National Credit Regulator accompanied by— (a) the registration certiﬁcate that was issued to that credit provider; and (b) an affidavit from the accounting officer, auditor or authority of such credit provider, conﬁrming that the registered activities have ceased. (4) The Minister may prescribe the procedure for the hand over and transfer of records of consumers where the registrant ceases to operate for any reason, including cancellation of registration, lapsing of registration, death or incapacity.’’. 25 30 35 40 45 Amendment of section 71 of Act 34 of 2005

Section 20Verify source

§ 21Section 71 of the principal Act is hereby amended by the substitution forSubstitution

Section 71 is amended to allow a late renewal fee to be charged by the National Credit Regulator where a registrant did not pay the prescribed renewal fee within 30 days of its due date.

21. Section 71 of the principal Act is hereby amended by the substitution for subsections (1), (2), (3) and (4) of the following subsections respectively: 50 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 17 Ino. 19 Ka 2014 17 (b) ngokwengeza esigatshaneni soku-(1) igama ‘‘futhi’’ ekupheleni kwendima (c); futhi (c) ngokwengeza esigatshaneni soku-(1) le ndima elandelayo: ‘‘(d) inhlawulo ekhokhwe sekudlule isikhathi yokuvuselela ukubhalisa kwababhalisayo okufanele ithweswe uMlawuli weziKweleti zikaZwelonke kobhalisayo ohlulekile ukukhokha imali enqunyiwe yokuvuselela ukubhalisa zingakapheli izinsuku ezingama-30 kusu- kela ngosuku okwakufanele le mali ikhokhwe ngalo.’’. 5 Ukuchibiyela isigaba sama-52 soMthetho wama-34 wezi-2005

Section 21Verify source

§ 19Ngakho-ke isigaba sama-52 soMthethongqangi sichitshiyelwe ngokufakaAmendment

The amendment says the registration keeps operating until the person is registered, the registration is withdrawn, or the renewal-fee deadline passes.

19. Ngakho-ke isigaba sama-52 soMthethongqangi sichitshiyelwe ngokufaka 10 endaweni yesigatshana sesi-(4) sendima (b) le ndima elandelayo: ‘‘(b) [uma kukhokhwe kusenesikhathi imali enqunyiwe yokuvuselela uku- bhalisa,] uyaqhubeka nokusebenza kuze— (i) kubhaliswe lowo obhalisayo; [noma] (ii) kuhoxiswe ukubhaliswa ngokwemigomo yalo Mthetho[.]; noma (iii) sekuphele isikhathi ngosuku lokugcina okwakufanele kukhokhwe ngalo imali yokuvuselela enqunyiwe ngokwemigomo yesigaba sesi-51(1)(c).’’. 15 Ukushutheka isigaba sama-58A kuMthetho wama-34 wezi-2005

Section 19Verify source

§ 20Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuvaProvision

A person applying to cancel registration must send prescribed notice and affidavits to the National Credit Regulator, attach proof that affected customers and related providers were notified, and include the registration certificate. A cancelled registrant must also file an affidavit about customer transfer. A credit provider seeking cancellation must send a cancellation notice with its certificate and an affidavit confirming the relevant registration has been cancelled.

20. Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuva 20 kwesigaba sama-58: ‘‘Ezinye izimfanelo zokusula 58A. (1) Obhalisile ozicelela ngokwakhe ukuba asulwe kufanele— (a) athumele isaziso ngendlela nangefomu enqunyiwe, kanye nencwadi efungelwe kuMlawuli weziKweleti kaZwelonke, esibeka— injongo yobhalisile yokuzisulela ukubhaliswa ngokwakhe; izizathu zokusula; kanye (i) (ii) (iii) nosuku okufanele ukusulwa kwenziwe ngalo; (b) afake kuleso saziso ubufakazi bokuthi wonke amakhasimende athintekayo, abahlinzekela ngezikweleti nabophiko lwezikweleti bazisiwe ngale njongo yokusula; futhi afake kuleso saziso isitiﬁketi sokubhalisa esanikezwa lowo obhalisile esinikezwa uMlawuli weziKweleti kaZwelonke. (c) (2) Obhalisile osesuliwe ngokulandela isigatshana soku-(1) kufanele, ngendlela nangesimo esinqunyiwe,athumele incwadi efungelwe kuMla- wuli weziKweleti kaZwelonke ebeka ukuthi amakhasimende avezwe esigatshaneni soku-(1)(b) asedluliselwe komunye obhalisile okhethwe ikhasimende. (3) Ohlinzekela ngezikweleti ozicelela ukuba asulwe kufanele, ngendlela enqunyiwe, athumele isaziso sokusula kuMlawuli weziKweleti kaZwe- lonke esihambisana— (a) nesitiﬁketi sokubhalisa esakhishelwa lowo ohlinzekela ngezikweleti; futhi (b) nencwadi efungelwe evela kobhekele izimali, umcwaningimabhuku noma uphiko lwalowo ohlinzekela ngezikweleti, eqinisekisa ukuthi ukubhaliswa kwaleyo misebenzi sekusuliwe. (4) UNgqongqoshe anganquma inqubo yokudlulisa nokunikezela ngamakhasimende uma obhalisile eyeka ukusebenza ngesizathu esithile, kubalwa esokusula ukubhalisa, ukuphelelwa isikhathi kokubhaliswa, ukudlula emhlabeni noma engasakwazi ukuqhuba umsebenzi.’’. 25 30 35 40 45 50 Ukuchibiyela isigaba sama-71 soMthetho wama-34 wezi-2005

Section 20Verify source

§ 21Ngakho-ke isigaba sama-71 soMthethongqangi sichitshiyelwe ngokufaka enda-Amendment

Debt counsellors must issue clearance certificates and file them within seven days; consumers can seek Tribunal review or file a copy with the National Credit Regulator if the counsellor does not file it.

21. Ngakho-ke isigaba sama-71 soMthethongqangi sichitshiyelwe ngokufaka enda- weni yesigatshana soku-(1), (2), (3) nesesi-(4) lezi zigatshana ezilandelayo ngoku- landelana: 18 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 18 ‘‘(1) A consumer whose debts have been re-arranged in terms of Part D of this Chapter, [may apply to a debt counsellor at any time for a clearance certiﬁcate relating to that debt re-arrangement] must be issued with a clearance certiﬁcate by a debt counsellor within seven days after the consumer has— (a) satisﬁed all the obligations under every credit agreement that was subject to that debt re-arrangement order or agreement, in accordance with that order or agreement; or 5 (b) demonstrated— (i) ﬁnancial ability to satisfy the future obligations in terms of the re-arrangement order or agreement under— (aa) a mortgage agreement which secures a credit agreement for the 10 (ii) (iii) purchase or improvement of immovable property; or (bb) any other long term agreement as may be prescribed; that there are no arrears on the re-arranged agreements contemplated in subparagraph (i); and that all obligations under every credit agreement included in the re-arrangement order or agreement, other than those contemplated in subparagraph (i), have been settled in full. (2) A debt counsellor must for the purposes of the demonstration envisaged in subsection (1) (b), apply such measures as may be prescribed. (3) If a debt counsellor [refuses] decides not to issue or fails to issue a clearance certiﬁcate as contemplated in subsection [(2)(b)(i)] (1), the consumer may apply to the Tribunal to review that decision, and if the Tribunal is satisﬁed that the consumer is entitled to the certiﬁcate in terms of subsection [(2)(b)(i)] (1), the Tribunal may order the debt counsellor to issue a clearance certiﬁcate to the consumer. (4) (a) A [consumer to whom a clearance certiﬁcate is issued in terms of this section may] debt counsellor must within seven days after the issuance of the clearance certiﬁcate, ﬁle a certiﬁed copy of that certiﬁcate, with the national register established in terms of section 69 of this Act [or any credit bureau] and all registered credit bureaux. (b) If the debt counsellor fails to ﬁle a certiﬁed copy of a clearance certiﬁcate as contemplated in subsection (1), a consumer may ﬁle a certiﬁed copy of such certiﬁcate with the National Credit Regulator and lodge a complaint against such debt counsellor with the National Credit Regulator.’’. Insertion of section 71A of Act 34 of 2005

Section 21Verify source

§ 22The following section is hereby inserted in the principal Act after section 71:Provision

Credit providers must report settlement information to registered credit bureaux within 7 days, and credit bureaux must remove covered adverse listings within 7 days after receiving that information.

22. The following section is hereby inserted in the principal Act after section 71: ‘‘Automatic removal of adverse consumer credit information 71A. (1) The credit provider must submit to all registered credit bureaux within seven days after settlement by a consumer of any obligation under any credit agreement, information regarding such settlement where an obligation under such credit agreement was the subject of— (a) an adverse classiﬁcation of consumer behaviour; (b) an adverse classiﬁcation enforcement action against a consumer; (c) (d) a judgement debt. an adverse listing recorded in the payment proﬁle of the consumer; or (2) The credit bureau must remove any adverse listing contemplated in subsection (1) within seven days after receipt of such information from the credit provider. 15 20 25 30 35 40 45 (3) If the credit provider fails to submit information regarding a 50 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 19 Ino. 19 Ka 2014 19 ‘‘(1) Ikhasimende elinesikweleti esesihlelwe kabusha ngokwemigomo yeNgxe- nye D yalesi Sahluko, [lingafaka isicelo kumeluleki wezikweleti noma nini licele isitiﬁketi sokusulwa kwamarekhodi esikweleti mayelana nama- lungiselelo okuhlela kabusha isikweleti] kufanele linikezwe isitiﬁketi sokusulwa kwamarekhodi izinsuku eziyisikhombisa ngemuva kokuba ikhasimende— (a) lilandele zonke izibophezelo ezingaphansi kwesivumelwano sesikweleti mayelana nomyalelo wokuhlela kabusha leso sikweleti, ngokulandela umyalelo waleso sikweleti noma isivumelwano; noma liveze— (i) esikweleti ngumeluleki wezikweleti zingakapheli (b) amandla okukwazi ukukhokha izibophezelo ngokwemigomo yomyalelo wokuhlela kabusha noma isivumelwane esingaphansi kwaso— (aa) isivumelwane sempahla esiqikelela isivumelwane sesikweleti sokuthenga noma sokwenza ngcono impahla engaphatheki; noma (bb) esinye isivumelwane eside esinganqunywa; (ii) ukuthi ayikho imali engakakhokhwa ezivumelwaneni ezihlelwe kabusha ezivezwe endimaneni (i); futhi (iii) ukuthi zonke izibophezelo ezingaphansi kwesivumelwane sesi- kweleti zifakiwe kumyalelo wokuhlela kabusha noma esivu- melwaneni, okungesona leso esivezwe endimaneni (i), zakhokhwa. (2) Umeluleki wezikweleti ngenjongo yokuveza okubekwe esigatshaneni soku-(1) (b), usebenzisa lezo zinyathelo ezinganqunywa. (3) Uma umeluleki wezikweleti [enqaba] enquma ukuba angasikhiphi noma ehluleka ukukhipha isitiﬁketi sokusula njengoba kuveziwe esigatshaneni sesi- [(2)(b)(i)] (1), ikhasimende lingafaka isicelo eNkundleni ukuba kubuyekezwe isinqumo, futhi uma iNkundla igculisekile ngokuthi ikhasimende lifanele ukuthola isitiﬁketi ngokwemigomo yesigatshana sesi-[(2)(b)(i)] (1), iNkundla ingakhipha umyalelo wokuba umeluleki wezikweleti akhiphe isitiﬁketi sokusula ikhasimende. (4) (a) [Ikhasimende elinikezwe isitiﬁketi sokusulwa ngokwemigomo yalesi sigaba lina] Umeluleki wezikweleti kufanele zingakapheli izinsuku eziyisi- khombisa kukhishwe isitiﬁketi sokusulwa, athumele ikhophi yaleso sitiﬁketi, kuregista kazwelonke ngokwemigomo yesigaba sama-69 salo Mthetho [noma nesikhungo sezikweleti] nazo zonke izikhungo zezikweleti ezibhalisiwe. (b) Uma umeluleki wezikweleti ehluleka ukuthumela ikhophi efungelwe yesitiﬁketi sokusulwa esivezwe esigatshaneni soku-(1), ikhasimende lingathumela ikhophi efungelwe kuMlawuli weziKweleti kaZwelonke uthi afake nesikhalazo mayelana nalowo meluleki wezikweleti kuMlawuli weziKweleti kaZwelonke.’’. Ukushutheka isigaba sama-71A soMthetho wama-34 wezi-2005

Section 22Verify source

§ 22Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuvaAmendment

A credit provider must send settlement information to all credit bureaus within 7 days, and the credit bureau must remove the related adverse listing within 7 days of receiving it.

22. Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuva kwesigaba sama-71: ‘‘Ukuzisukela kwemininingwane yezikweleti zamakhasimende 71A. (1) Ohlinzekela ngezikweleti kufanele athumelele zonke izikhungo zezikweleti zingakapheli izinsuku eziyisikhombisa ngemuva kokupho- thulwa kwesibophezelo sekhasimende ngesivumelwano sesikweleti, imini- ningwane emayelana nokuphothulwa kwesibophezelo esingaphansi kwesi- vumelwano sesikweleti mayelana— (a) nokuchazwa okungekuhle kokuziphatha kwekhasimende; (b) izinyathelo zokubophezela ukuziphatha okungekuhle ezithathelwe ikhasimende; (c) uhlu olurekhodiwe lwendlela amakhasimende akhokha ngayo; noma (d) isikweleti esikhishelwe isinqumo. (2) Uphiko lwezikweleti kufanele lisuse okusohlwini okungekuhle okuvezwe esigatshaneni soku-(1) zingakapheli izinsuku eziyisikhombisa ngemuva kokuthola leyo mininingwane kohlinzekela ngezikweleti. (3) Uma ohlinzekela ngezikweleti ehluleka ukuthumela imininingwane ikhasimende emayelana nokukhokha evezwe esigatshaneni soku-(1), 5 10 15 20 25 30 35 40 45 50 55 20 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 20 settlement as contemplated in subsection (1), a consumer may lodge a complaint against such credit provider with the National Credit Regulator. (4) For the purposes of this section— (a) (b) ‘adverse classiﬁcation of consumer behaviour’ means classiﬁcation relating to consumer behaviour and includes a classiﬁcation such as ‘‘delinquent’’, ‘‘default’’, ‘‘slow paying’’, ‘‘absconded’’, or ‘‘not contactable’’; and ‘adverse classiﬁcation of enforcement action’ means classiﬁcation relating to enforcement action taken by the credit provider, including a classiﬁcation such as ‘‘handed over for collection or recovery’’, ‘‘legal action’’, or ‘‘write-off’’.’’. 5 10 Amendment of section 73 of Act 34 of 2005

Section 22Verify source

§ 23Section 73 of the principal Act is hereby amended by the substitution forSubstitution

The Minister may, at any time, prescribe rules about how consumer credit information is reviewed, verified, corrected or removed, how a registered auditor confirms that, and the timing and schedule for consumers to exercise section 72(1) rights.

23. Section 73 of the principal Act is hereby amended by the substitution for subsection (1) of the following subsection: ‘‘(1) The Minister [must, within a period of six months after the effective 15 date,] may, at any time prescribe— (a) the nature of, time-frame, form and manner in which consumer credit information held by credit bureaux must be reviewed, veriﬁed, corrected or removed; [and] (aA) the manner in which a registered auditor may conﬁrm that the consumer credit information referred to in paragraph (a) has been reviewed, veriﬁed, corrected or removed; and the time frame and schedule for the exercise by consumers of their rights in terms of section 72(1)[, (b) 20 within a period of one year after the regulations being promulgated].’’. 25 Amendment of section 82 of Act 34 of 2005

Section 23Verify source

§ 24Section 82 of the principal Act is hereby amended—Substitution

A credit provider may choose its assessment methods, but they must produce a fair, objective assessment and comply with affordability assessment regulations. The Minister must make those regulations on the National Credit Regulator’s recommendation.

24. Section 82 of the principal Act is hereby amended— (a) by the substitution for subsections (1) and (2) of the following subsections, respectively: ‘‘(1) [Subject to subsections (2)(a) and (3), a] A credit provider may determine for itself the evaluative mechanisms or models and procedures to be used in meeting its assessment obligations under section 81, provided that any such mechanism, model or procedure results in a fair and objective assessment and must not be inconsistent with the affordability assessment regulations made by the Minister. (2) The Minister must, on recommendation of the National Credit Regulator, make affordability assessment regulations.’’; and (b) by the deletion of subsections (3) and (4). Amendment of section 83 of Act 34 of 2005

Section 24Verify source

§ 25Section 83 of the principal Act is hereby amended—Substitution

This section amends section 83 of the principal Act and changes the heading and wording about when a court or Tribunal may declare a credit agreement reckless.

25. Section 83 of the principal Act is hereby amended— (a) by the substitution for the heading of the following heading: ‘‘[Court may suspend reckless credit agreement] Declaration of reckless credit agreement’’; (b) by the substitution for subsection (1) of the following subsection: ‘‘(1) Despite any provision of law or agreement to the contrary, in any court or Tribunal proceedings in which a credit agreement is being considered, the court or Tribunal, as the case may be, may declare that the credit agreement is reckless, as determined in accordance with this Part.’’; 30 35 40 45 (c) by the substitution in subsection (2) for the words preceding paragraph (a) of 50 the following words: GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 21 Ino. 19 Ka 2014 21 lingafaka isikhalazo kuMlawuli weziKweleti kaZwelonke mayelana nohlinzekela ngezikweleti. (4) Ngokwalesi sigaba— (a) (b) ‘ukuchazwa kokuziphatha kwekhasimende’ kuchaza ukuchazwa okuhambisana nendlela yokuziphatha kwekhasimende futhi kuba- ndakanya ukuchaza ‘‘ukungalaleli umthetho’’, ‘‘ukungakhokhi’’, ‘‘ukukhokha kabi’’, ‘‘ukubalekela ukukhokha’’, noma ‘‘ukungatho- lakali’’; futhi ‘ukuchazwa kwezinyathelo zokubophezela’ kuchaza ukuchazwa okuhambisana nezinyathelo zokubophezela ezithathwe ohlinzekela ngezikweleti, kubandakanya ukuchazwa ‘‘kokunikezelwa ukuze kukhokhwe noma kutholwe imali’’, ‘‘izinyathelo zomthetho’’, noma ‘‘ukusulwa’’.’’. 5 10 Ukuchibiyela isigaba sama-73 soMthetho wama-34 wezi-2005

Section 25Verify source

§ 23Ngakho-ke isigaba sama-73 soMthethongqangi sichitshiyelwe ngokufakaProvision

The Minister may determine how credit information held by a credit bureau is reviewed, processed, corrected, or removed, how a registered auditor confirms that a customer’s credit information has been updated, and how customers exercise their section 72 rights.

23. Ngakho-ke isigaba sama-73 soMthethongqangi sichitshiyelwe ngokufaka 15 endaweni yesigatshana soku-(1) lesi sigaba esilandelayo: ‘‘(1) UNgqongqoshe [kufanele, zingakapheli izinyanga eziyisithupha nge- muva kosuku lokuqala lokusebenza,] noma nini, anganquma— (a) indlela, isikhathi, isimo okufanele kubuyekezwe, kucutshungulwe, kulu- ngiswe noma kususwe ngayo imininingwane egcinwe isikhungo sezikweleti; [kanye] (aA) indlela okufanele umcwaningimabhuku obhalisiwe aqinisekise ukuthi imininingwane yesikweleti yekhasimende evezwe endimeni (a) ibuyekeziwe, icutshungulwa, ilungiswe noma isuswe; kanye isikhathi nohlelo lokuba amakhasimende asebenzise amalungelo awo ngokwemigomo yesigaba sama-72)1)[, (b) ungakapheli unyaka owodwa ngemuva kokumiswa kwezimiso zomthetho].’’; Ukuchibiyela isigaba sama-82 soMthetho wama-34 wezi-2005

Section 23Verify source

§ 24Ngakho-ke isigaba sama-82 soMthethongqangi sichitshiyelwe—Amendment

This section amends section 82 to let a credit provider choose assessment methods for section 81 obligations, if the process is fair, proper, and consistent with the Minister’s credit principles.

24. Ngakho-ke isigaba sama-82 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana soku-(1) nesesi-(2) lezi zigatshana ezilandelayo ngokulandelana: ‘‘(1) [Ngokwesigatshana sesi-(2)(a) nesesi-(3),] Onikezela ngesi- kweleti anganquma amakhambi okuhlola noma izindlela nenqubo ezosetshenziswa ukuhlangabezana nezibophezelo ezihloliwe ngaphansi kwesigaba sama-81, inqobo nje uma lelo khambi, indlela noma inqubo izoholela ekuhloleni ngendlela engachemile futhi efanele futhi kufanele ingashayisani nezimiso zomthetho zamandla okuthenga ezimiswe uNgqongqoshe. (2) UNgqongqoshe ngezincomo zoMlawuli weziKweleti kaZwe- izimiso zomthetho zamandla okuthenga amise lonke, kufanele ezihloliwe.’’; futhi (b) ngokususa isigatshana sesi-(3) nesesi-(4). Ukuchibiyela isigaba sama-83 soMthetho wama-34 wezi-2005

Section 24Verify source

§ 25Ngakho-ke isigaba sama-83 soMthethongqangi sichitshiyelwe—Substitution

A court or Tribunal may declare a credit agreement reckless and make orders under the section, and must consider whether the consumer is over-indebted before making an order.

25. Ngakho-ke isigaba sama-83 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesihloko lesi sihloko esilandelayo: ‘‘[Inkantolo ingamisa isivumelwano sesikweleti esinobudedengu] Ukume- nyezelwa kwesivumelwano sesikweleti esinobudedengu’’; (b) ngokufaka endaweni yesigatshana soku-(1) lesi sigatshana esilandelayo: ‘‘(1) Nakuba kunombandela womthetho noma isivumelwano esi- shayisana nalokhu, kokuqhutshwa inkantolo noma iNkundla lapho kucutshungulwa khona isivumelwano sesikweleti, inkantolo noma iNkundla, noma okunye kwalokhu, ingamemezela ukuthi isivumelwano sesikweleti sinobudedengu, njengoba kunqunyiwe ngokulandela le Ngxenye.’’; 20 25 30 35 40 45 50 (c) ngokufaka endaweni yesigatshana sesi-(2) emagameni andulela indima (a) 55 lawa magama alandelayo: 22 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 22 ‘‘If a court or Tribunal declares that a credit agreement is reckless in terms of section 80(1)(a) or 80(1)(b)(i), the court or Tribunal, as the case may be, may make an order—’’; (d) by the substitution in subsection (3) for the words preceding paragraph (a) of the following words: ‘‘If a court or Tribunal, as the case may be, declares that a credit agreement is reckless in terms of section 80(1)(b)(ii), the court or Tribunal, as the case may be—’’; (e) by the substitution in subsection (3) for paragraph (a) of the following paragraph: ‘‘(a) must further consider whether the consumer is over-indebted at the time of those [court] proceedings; and’’; (f) by the substitution in subsection (3) for the words preceding subparagraph (i) of paragraph (b) of the following words: ‘‘if the court or Tribunal, as the case may be, concludes that the consumer is over-indebted, the said court or Tribunal may make an order—’’; and (g) by the substitution in subsection (4) for the words preceding paragraph (a) of the following words: 5 10 15 ‘‘Before making an order in terms of subsection (3), the court or Tribunal, as the case may be, must consider—’’. 20 Amendment of section 86 of Act 34 of 2005

Section 25Verify source

§ 26Section 86 of the principal Act is hereby amended—Substitution

This section changes debt review rules: a credit provider may terminate review notice after 60 business days in default cases, but not if the review application is already in court or the Tribunal.

26. Section 86 of the principal Act is hereby amended— (a) by the substitution for subsection (2) of the following subsection: ‘‘(2) An application in terms of this section may not be made in respect of, and does not apply to, a particular credit agreement if, at the time of that application, the credit provider under that credit agreement has proceeded to take the steps contemplated in section [129] 130 to enforce that agreement.’’; (b) by the substitution for subsections (10) and (11) of the following subsections, respectively: ‘‘(10) (a) If a consumer is in default under a credit agreement that is being reviewed in terms of this section, the credit provider in respect of that credit agreement may, at any time at least 60 business days after the date on which the consumer applied for the debt review, give notice to terminate the review in the prescribed manner to— [(a)] (i) the consumer; [(b)](ii) the debt counsellor; and [(c)](iii) the National Credit Regulator[, at any time at least 60 business days after the date on which the consumer applied for the debt review][.]; and (b) No credit provider may terminate an application for debt review lodged in terms of this Act, if such application for review has already been ﬁled in a court or in the Tribunal.’’; (11) If a credit provider who has given notice to terminate a review as contemplated in subsection (10) proceeds to enforce that agreement in terms of Part C of Chapter 6, the [Magistrate’s Court] court hearing the matter may order that the debt review resume on any conditions the court considers to be just in the circumstances.’’. Amendment of section 89 of Act 34 of 2005

Section 26Verify source

§ 27Section 89 of the principal Act is hereby amended—Substitution

This section amends section 89 so that, before making certain orders, the court or tribunal must consider whether the customer is over-indebted during the proceedings.

27. Section 89 of the principal Act is hereby amended— (a) by the substitution in subsection (5) for the words preceding paragraph (a) of the following words: 25 30 35 40 45 50 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 23 Ino. 19 Ka 2014 23 ‘‘Uma inkantolo noma iNkundla imemezela ukuthi isivumelwano sesikweleti sinobudedengu ngokwemigomo yesigaba sama-80(1)(a) noma sama-80(1)(b)(i), inkantolo noma iNkundla, noma okunye kwalokhu, ingakhipha umyalelo—’’; (d) ngokufaka endaweni yesigatshana sesi-(3) emagameni andulela indima (a) 5 lawa magama alandelayo: ‘‘Uma inkantolo noma iNkundla, noma omunye wabo, ememezela ukuthi sinobudedengu ngokwemigomo yesigaba sama-80(1)(b)(ii), inkantolo noma iNkundla, noma omunye wabo—’’; isivumelwano sesikweleti (e) ngokufaka endaweni yesigatshana sesi-(3) sendima (a) le ndima elandelayo: ‘‘(a) kufanele abheke futhi ukuthi ngabe ikhasimende libishe ezi- kweletini ngesikhathi kuqhutshwa lezo zinyathelo [zenkantolo]; futhi’’; 10 (f) ngokufaka endaweni yesigatshana sesi-(3) emagameni andulela indima (i) endimeni (b) lawa magama alandelayo: 15 ‘‘Uma inkantolo noma iNkundla, noma omunye wabo, ephothula leyo nkantolo noma ngokuthi iNkundla ingakhipha umyalelo—’’; futhi ikhasimende libishe ezikweletini, (g) ngokufaka endaweni yesigatshana sesi-(4) emagameni andulela indima (a) lawa magama alandelayo: ‘‘Ngaphambi kokukhipha umyalelo ngokwemigomo yesigatshana inkantolo noma iNkundla, noma omunye wabo, kufanele sesi-(3), abheke—’’. Ukuchibiyela isigaba sama-86 soMthetho wama-34 wezi-2005

Section 27Verify source

§ 26Ngakho-ke isigaba sama-86 soMthethongqangi sichitshiyelwe—Amendment

This amendment changes when a credit review can be suspended and when a court may order it to continue.

26. Ngakho-ke isigaba sama-86 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana sesi-(2) lesi sigatshana esilandelayo: ‘‘(2) Isicelo ngokwemigomo yalesi sigaba ngeke sifakwe, futhi asisebenzi, esivumelwaneni sesikweleti esithile uma, ngesikhathi kufakwa leso sicelo, ohlinzekela ngesikweleti ngaphansi kwaleso sivumelwano sesikweleti waqhubeka wathatha izinyathelo ezivezwe esigabeni [se-129] se-130 ukubophezela leso sivumelwano.’’; (b) ngokufaka endaweni yesigatshana se-(10) nese-(11) lezi zigatshana ezila- ndelayo, ngokulandelana: ‘‘(10) (i) kukhasimende; (a) Uma ikhasimende lingakhokhile ngaphansi kwesivu- melwano sesikweleti esisabuyekezwa ngokwemigomo yalesi sigaba, ohlinzekela ngesikweleti mayelana naleso sivumelwano sesikweleti, noma nini zingakapheli izinsuku ezingama-60 zokusebenza ngemuva kosuku ikhasimende elafaka ngalo isicelo sokubuyekezwa kwesikweleti, anganikeza isaziso ukumisa ukubuyekezwa ngendlela enqunyiwe— [(a)] [(b)] (ii) umeluleki wezikweleti; kanye [(c)] (iii) noMlawuli weziKweleti kaZwelonke [, noma nini zingakapheli izinsuku zokusebenza ezingama-60 nge- muva kosuku ikhasimende elafaka ngalo isicelo sokubuyekezwa kwesikweleti] [.]; futhi (b) Ohlinzekela ukubuyekezwa kwesikweleti okufakiwe ngokwemigomo yalo Mthetho, uma leso sicelo sokubuyekeza sesifakwe enkantolo noma eNkundleni.’’; ngesikweleti ngeke amise (11) Uma ohlinzekela ngesikweleti onikeze isaziso sokumisa ukubuyekezwa kwesikweleti njengoba kuveziwe esigatshaneni se-(10) eqhubeka nokubophezela isivumelwano ngokwemigomo yeNgxenye C yeSahluko sesi-6, [iNkantolo kaMantshi] inkantolo elalele lolo daba ingakhipha umyalelo wokuba kuqalwe ukubuyekezwa kwesikweleti ngokulandela imibandela inkantolo ebona ifanele kulezo zimo.’’. Ukuchibiyela isigaba sama-89 soMthetho wama-34 wezi-2005

Section 26Verify source

§ 27Ngakho-ke isigaba sama-89 soMthethongqangi sichitshiyelwe—Substitution

This section amends section 89 so that, when a credit agreement is unlawful under the section, a court must make a just and equitable order.

27. Ngakho-ke isigaba sama-89 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana sesi-(5) emagameni andulela indima (a) lawa magama alandelayo: 20 25 30 35 40 45 50 55 24 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 24 ‘‘If a credit agreement is unlawful in terms of this section, despite [any provision of common law,] any other legislation or any provision of an agreement to the contrary, a court must make a just and equitable order including but not limited to an order that—’’; and (b) by the deletion in subsection (5) of paragraphs (b) and (c). 5 Substitution of section 91 of Act 34 of 2005

Section 27Verify source

§ 28The following section is hereby substituted for section 91 of the principal Act:Substitution

Credit providers must not use false pretences or fraud to get consumers to sign credit agreements or supplementary documents containing unlawful provisions.

28. The following section is hereby substituted for section 91 of the principal Act: ‘‘Prohibition of unlawful provisions in credit agreements and supple- mentary agreements 91. (1) A credit provider must not directly or indirectly, by false pretences or with the intent to defraud, offer, require or induce a consumer to enter into or sign a credit agreement that contains an unlawful provision as contemplated in section 90. (2) A credit provider must not directly or indirectly require or induce a consumer to enter into a supplementary agreement or sign any document, that contains a provision that would be unlawful if it were included in a credit agreement.’’. Amendment of section 100 of Act 34 of 2005

Section 28Verify source

§ 29Section 100 of the principal Act is hereby amended by the addition of theAmendment

A person who contravenes this section commits an offence.

29. Section 100 of the principal Act is hereby amended by the addition of the following subsection: ‘‘(3) A person who contravenes this section is guilty of an offence.’’. Amendment of section 106 of Act 34 of 2005 10 15 20

Section 29Verify source

§ 30Section 106 of the principal Act is hereby amended by the addition of theAmendment

The Minister may, after consulting the Minister of Finance, set a limit on the cost of credit insurance that a credit provider may charge a consumer.

30. Section 106 of the principal Act is hereby amended by the addition of the following subsection: ‘‘(8) The Minister may, in consultation with the Minister of Finance, prescribe the limit in respect of the cost of credit insurance that a credit provider may charge a consumer.’’. 25 Insertion of section 126B in Act 34 of 2005

Section 30Verify source

§ 31The following section is hereby inserted in the principal Act after section 126A:Amendment

No person may sell, collect, or reactivate a debt under a credit agreement if the debt has been extinguished by prescription, including cases where the consumer raises the defence of prescription.

31. The following section is hereby inserted in the principal Act after section 126A: ‘‘Application of prescription on debt 30 126B. (1) (a) No person may sell a debt under a credit agreement to which this Act applies and that has been extinguished by prescription under the Prescription Act, 1969 (Act No. 68 of 1969). (b) No person may continue the collection of, or re-activate a debt under a credit agreement to which this Act applies— (i) which debt has been extinguished by prescription under the Prescrip- 35 tion Act, 1969 (Act No. 68 of 1969); and (ii) where the consumer raises the defence of prescription, or would reasonably have raised the defence of prescription had the consumer been aware of such a defence, in response to a demand, whether as part of legal proceedings or otherwise.’’. 40 Amendment of section 129 of Act 34 of 2005

Section 31Verify source

§ 32Section 129 of the principal Act is hereby amended—Substitution

This section amends section 129 of the principal Act and replaces subsection (3), stating that a consumer may act before a stated time limit, subject to subsection (4).

32. Section 129 of the principal Act is hereby amended— (a) by the substitution for subsection (3) of the following subsection: ‘‘(3) Subject to subsection (4), a consumer may at any time before the 45 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 25 Ino. 19 Ka 2014 25 ‘‘Uma isivumelwano sesikweleti singekho emthethweni ngokwe- migomo yalesi sigaba, nakuba [kunombandela womthetho ojwa- yelekile,] kunomunye umthetho noma umbandela wesivumelwano inkantolo kufanele ikhiphe umyalelo ofanele futhi oshayisanayo, ongenzeleli kubandakanya nomyalelo wokuba—’’; futhi 5 (b) ngokususa isigatshana sesi-(5) sendima (b) no-(c). Ukushintsha isigaba sama-91 soMthetho wama-34 wezi-2005

Section 32Verify source

§ 28Ngakho-ke lesi sigaba esilandelayo sifakwe endaweni yesigaba sama-91Provision

A credit provider must not induce a customer to make or sign a credit agreement, related agreement, or document containing an unlawful condition.

28. Ngakho-ke lesi sigaba esilandelayo sifakwe endaweni yesigaba sama-91 soMthethongqangi: ‘‘Ukunqanda imibandela engekho emthethweni ezivumelwaneni zezikweleti nasezivumelwaneni ezihambisana nazo 10 91. (1) Ohlinzekela ngesikweleti akufanele, azenze noma ngenhloso yokukhwabanisa, anikeze, acele noma anxenxe ikhasimende ukuba lenze noma lisayinde isivumelwano sesikweleti esinombandela ongekho emthe- thweni njengoba kuveziwe esigabeni sama-90. (2) Ohlinzekela ngesikweleti akufanele acele noma anxenxe ikha- simende ukuba lenze isivumelwano esihambisana nesinye, noma lisayinde umqulu, onombandela ongekho emthethweni uma ufakwa esivumelwaneni sesikweleti.’’. Ukuchibiyela isigaba se-100 soMthetho wama-34 wezi-2005

Section 28Verify source

§ 29Ngakho-ke isigaba se-100 soMthethongqangi sichitshiyelwe ngokwengeza lesiAmendment

This provision amends section 100 by adding that a person who contravenes the section is guilty of an offence.

29. Ngakho-ke isigaba se-100 soMthethongqangi sichitshiyelwe ngokwengeza lesi sigatshana esilandelayo: ‘‘(3) Umuntu owaphula lesi sigaba unecala.’’. Ukuchibiyela isigaba se-106 soMthetho wama-34 wezi-2005 15 20

Section 29Verify source

§ 30Ngakho-ke isigaba se-106 soMthethongqangi sichitshiyelwe ngokwengeza lesiProvision

The Minister may set a maximum amount for credit insurance that can be charged to a customer, after consulting the Minister of Finance.

30. Ngakho-ke isigaba se-106 soMthethongqangi sichitshiyelwe ngokwengeza lesi 25 sigatshana esilandelayo: ‘‘(8) UNgqongqoshe ngokuxoxisana noNgqongqoshe wezeziMali, anganquma umkhawulo wesamba somshwalense wesikweleti ohlinzekela ngesikweleti angawukhokhisa ikhasimende.’’. Ukushutheka isigaba se-126B kuMthetho wama-34 wezi-2005

Section 30Verify source

§ 31Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuvaProvision

A person must not sell, collect, or revive certain debt if it has been extinguished under the Prescription Act, 1969.

31. Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuva kwesigaba se-126A: ‘‘Isicelo sesinqumo ngesikweleti 126B. (1) (a) Akekho umuntu okufanele adayise isikweleti ngaphansi kwesivumelwano sesikweleti lo Mthetho osebenzayo kusona futhi ebesisuliwe ngokunqunyiwe ngaphansi kwe-Prescription Act, 1969 (Act No. 68 of 1969). (b) Akekho umuntu okufanele aqhubeke aqoqe , noma avuselele kabusha isikweleti ngaphansi kwesivumelwane sesikweleti lo Mthetho osebenzayo kusona— (i) leso sikweleti esesicishiwe ngokunqunywe ngaphansi kwe-Prescrip- tion Act, 1969 (Act No. 68 of 1969); futhi lapho ikhasimende lizilwela kokunqunyiwe, noma belizozilwela kokunqunyiwe uma belinalo ulwazi ngalokho, mayelana noku- phoqelelwa, okuyingxenye yezinyathelo zomthetho noma okunye.’’. (ii) 30 35 40 45 Ukuchibiyela isigaba se-129 soMthetho wama-34 wezi-2005

Section 31Verify source

§ 32Ngakho-ke isigaba se-129 soMthethongqangi sichitshiyelwe—Substitution

This section changes the rules for notices and delivery under section 129, and limits when a credit provider may restore or revive a credit agreement.

32. Ngakho-ke isigaba se-129 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana sesi-(3) lesi sigatshana esilandelayo: ‘‘(3) Ngokwesigatshana sesi-(4), noma nini ngaphambi kokuba 26 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 26 credit provider has cancelled the agreement, remedy a default in such credit agreement by paying to the credit provider all amounts that are overdue, together with the credit provider’s prescribed default adminis- tration charges and reasonable costs of enforcing the agreement up to the time the default was remedied.’’. (b) by the substitution in subsection (4) for the words preceeding paragraph (a) of the following word: ‘‘A [consumer] credit provider may not re-instate or revive a credit agreement after—’’; and (c) by the addition of the following subsections: ‘‘(5) The notice contemplated in subsection (1)(a) must be delivered to the consumer— (a) by registered mail; or (b) to an adult person at the location designated by the consumer. (6) The consumer must in writing indicate the preferred manner of 5 10 15 delivery contemplated in subsection (5). (7) Proof of delivery contemplated in subsection (5) is satisﬁed by— (a) written conﬁrmation by the postal service or its authorised agent, of delivery to the relevant post office or postal agency; or (b) the signature or identifying mark of the recipient contemplated in 20 subsection (5)(b).’’. Amendment of section 130 of Act 34 of 2005

Section 32Verify source

§ 33Section 130 of the principal Act is hereby amended by the substitution inSubstitution

Section 130 is amended so that paragraph (a) now requires at least 10 business days to have passed after the credit provider gives notice to the consumer.

33. Section 130 of the principal Act is hereby amended by the substitution in subsection (1) for paragraph (a) of the following paragraph: ‘‘(a) at least 10 business days have elapsed since the credit provider delivered a notice to the consumer as contemplated in section 86[(9)](10), or section 129(1), as the case may be;’’. 25 Amendment of section 134 of Act 34 of 2005

Section 33Verify source

§ 34Section 134 of the principal Act is hereby amended by the substitution inSubstitution

A person may refer a matter or dispute about an alleged reckless credit agreement instead of filing a complaint with the National Credit Regulator.

34. Section 134 of the principal Act is hereby amended by the substitution in subsection (1) for the words preceding paragraph (a) of the following words: 30 ‘‘As an alternative to ﬁling a complaint with the National Credit Regulator in terms of section 136, a person may refer a matter or a dispute following an allegation of a reckless credit agreement that could be the subject of such a complaint as follows:’’. Insertion of sections 134A and 134B in Act 34 of 2005

Section 34Verify source

§ 35The following sections are hereby inserted in the principal Act after section 134:Provision

This section inserts new provisions on the registration and accreditation of alternative dispute resolution agents.

35. The following sections are hereby inserted in the principal Act after section 134: ‘‘Registration and accreditation of alternative dispute resolution agents

Section 35Verify source

§ 134AThe National Credit Regulator mustProvision

The National Credit Regulator must register and accredit alternative dispute resolution agents. The Tribunal may cancel that registration and accreditation on application by the National Credit Regulator if an agent breaches a registration condition or contravenes the Act, subject to subsection (2).

134A. The National Credit Regulator must register and accredit alternative dispute resolution agents. Deregistration of alternative dispute resolution agents 134B. (1) Subject to subsection (2), registration and accreditation in terms of section 134A may be cancelled by the Tribunal on application by the National Credit Regulator, if an alternative dispute resolution agent— (a) fails to comply with any condition of its registration and accreditation; or (b) contravenes this Act. 35 40 45 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 27 Ino. 19 Ka 2014 27 ohlinzekela ngesikweleti akhansele isivumelwane, ikhasimende linga- lungisa lelo phutha laleso sivumelwane sesikweleti ngokuba likhokhele ohlinzekela ngesikweleti yonke imali okufanele liyikhokhe, ihambisana nezindleko ezinqunywe ohlinzekela ngesikweleti zokungakhokhi kanye nezindleko ezifanele isivumelwane kuze kuﬁke zokubophezela esikhathini lapho kulungiswe khona lelo phutha lokungakhokhi.’’. 5 (b) ngokufaka endaweni yesigatshana sesi-(4) emagameni andulela indima (a) lawa magama alandelayo: ‘‘[Ikhasimende] Ohlinzekela ngesikweleti ngeke abuyisele avuselele isivumelwano sesikweleti ngemuva—’’; futhi 10 (c) ngokwengeza lezi zigatshana ezilandelayo: ‘‘(5) Isaziso esivezwe esigatshaneni soku-(1)(a) kufanele sithunye- lelwe ikhasimende— (a) gencwadi eposini ebhalisiwe; noma (b) kumuntu omdala osendaweni eqokwe ikhasimende. (6) Ikhasimende kufanele libhale phansi ukuveza indlela esinga- thunyelwa ngayo njengoba kuveziwe esigatshaneni sesi-(5). (7) Ubufakazi bokuthi siﬁkile obuvezwe esigatshaneni sesi-(5) bufakazelwa— (a) isiqinisekiso esibhaliwe saseposini noma igatsha eligunyaziwe, ukufakazela ukuﬁka eposini elifanele noma egatsheni lezamaposi; noma (b) ngokusayinda noma ngophawu oluthile losamukele ovezwe esigatshaneni sesi(5)(b).’’. Ukuchibiyela isigaba se-130 soMthetho wama-34 wezi-2005 15 20 25

Section 134AVerify source

§ 33Ngakho-ke isigaba se-130 soMthethongqangi sichitshiyelwe ngokufaka endaweniAmendment

This amendment replaces part of section 130 so that at least 10 business days must pass after the credit provider sends notice to the customer before the referenced step can occur.

33. Ngakho-ke isigaba se-130 soMthethongqangi sichitshiyelwe ngokufaka endaweni yesigatshana soku-(1) sendima (a) le ndima elandelayo: ‘‘(a) okungenani sekudlule isinsuku zokusebenza eziyi-10 kusukela ngesikhathi ohlinzekela ngesikweleti athumela isaziso kukhasimende njengoba kuveziwe esigabeni sama-86[(9)](10), noma se-129(1), noma kwesinye sazo;’’. 30 Ukuchibiyela isigaba se-134 soMthetho wama-34 wezi-2005

Section 33Verify source

§ 34Ngakho-ke isigaba se-134 soMthethongqangi sichitshiyelwe ngokufaka endaweniAmendment

This provision amends section 134 so that a person may refer a matter or dispute about an alleged reckless credit agreement to the National Credit Regulator as an alternative to lodging a complaint under section 136.

34. Ngakho-ke isigaba se-134 soMthethongqangi sichitshiyelwe ngokufaka endaweni yesigatshana soku-(1) emagameni andulela indima (a) lawa magama alandelayo: ‘‘Njengenye indlela yokufaka isikhalazo kuMlawulu weziKweleti kaZwelonke ngokwemigomo yesigaba se-136, umuntu angadlulisela udaba noma umbango olandela izinsolo zesivumelwano sesikweleti esinobudedengu okungaba umsuka waleso sikhalazo ngale ndlela elandelayo:’’. Ukushutheka isigaba se-134A soMthetho wama-34 wezi-2005

Section 34Verify source

§ 35Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuvaProvision

This section says the following section is inserted after section 134 and appears to concern registration and authorisation of certain persons or bodies, but the text is incomplete.

35. Ngakho-ke lesi sigaba esilandelayo sishuthekwe kuMthethongqangi ngemuva kwesigaba se-134: ‘‘Ukubhalisa nokugunyazwa kwezinye umbango izithunywa ezisombulula

Section 35Verify source

§ 134AUMlawuli weziKweleti kaZwelonke kufanele abhalise futhiAmendment

The National Credit Regulator must register and accredit alternative dispute resolution agents, and cancelled agents must stop their formerly registered activities.

134A. UMlawuli weziKweleti kaZwelonke kufanele abhalise futhi agunyaze ezinye izithunywa ezisombulula umbango. Ukusulwa kwezinye izithunywa ezisombulula umbango 134B. (1) Ngokwesigatshana sesi-(2), ukubhalisa nokugunyaza ngokwe- migomo yesigaba se-134A kungahoxiswa iNkundla uma uMlawululi weziKweleti kaZwelonke, uma esinye isithunywa esisombulula umba- ngo— (a) sihluleka ukulandela umbandela wokubhaliswa nokugunyazwa kwawo; noma siphula lo Mthetho. (b) 35 40 45 50 28 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 28 (2) If an alternative dispute resolution agent fails to comply with any condition of its registration or accreditation or contravenes this Act, and such alternative dispute resolution agent is also licensed by another regulatory authority, the National Credit Regulator may— (a) impose conditions on the registration of such alternative dispute resolution agent consistent with its licence, if any; refer the matter to the regulatory authority that licensed such alternative dispute resolution agent, with a request that the regulatory authority review that licence in the circumstances; or at the request, or with the consent, of the regulatory authority that licensed that alternative dispute resolution agent, apply to the Tribunal for cancellation of the registration and accreditation. (b) (c) 5 10 (3) A regulatory authority to whom a matter has been referred to in terms of subsection (2)(b)— (a) must conduct a formal review of the alternative dispute resolution 15 (b) agent’s licence; to the extent permitted by the legislation in terms of which the alternative dispute resolution agent is licensed, may suspend that licence pending the outcome of that review; or (c) may request, or consent to, the National Credit Regulator lodging an application with the Tribunal for cancellation of the registration. (4) The National Credit Regulator must attempt to reach an agreement as contemplated in section 17(4) with any regulatory authority that issued a licence to an alternative dispute resolution agent that is registered in terms of section 134A, to co-ordinate the procedures to be followed in taking any action in terms of subsections (2) and (3). (5) The registration of an alternative dispute resolution agent is cancelled as of— (a) (b) the date on which the Tribunal issues an order; or in the case of a voluntary cancellation, the date speciﬁed by the said alternative dispute resolution agent in the notice of voluntary cancellation. (6) An alternative dispute resolution agent whose registration has been cancelled must not engage in any formerly registered activities after the date on which the cancellation takes effect.’’. 20 25 30 35 Amendment of section 136 of Act 34 of 2005

Section 134AVerify source

§ 36Section 136 of the principal Act is hereby amended by the substitution forSubstitution

Any person may submit certain complaints to the National Credit Regulator in the prescribed manner and form.

36. Section 136 of the principal Act is hereby amended by the substitution for subsection (1) of the following subsection: ‘‘(1) Any person may submit a complaint concerning an alleged contravention of this Act or a complaint concerning an allegation of reckless credit to the National Credit Regulator in the prescribed manner and form.’’. 40 Amendment of section 163 of Act 34 of 2005

Section 36Verify source

§ 37Section 163 of the principal Act is hereby amended—Substitution

This section requires certain credit-sector entities to train their employees or agents, and it gives the Minister power to set training requirements and standards.

37. Section 163 of the principal Act is hereby amended— (a) by the substitution for subsection (1) of the following subsection: ‘‘(1) A credit provider, debt counsellor or payment distributing agent must ensure that its employees or agents are trained in respect of the matters to which this Act applies.’’; (b) by the insertion after subsection (1) of the following subsections: ‘‘(1A) The Minister must prescribe the requirements and standards for the training contemplated in subsection (1). (1B) Until the regulations envisaged in subsection (1A) have been made, credit providers, debt counsellors and payment distributing agents must ensure that its employees or agents are trained to such an extent that they can contribute to the purpose of this Act. 45 50 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 29 Ino. 19 Ka 2014 29 (2) Uma esinye isithunywa esisombulula umbango sihluleka ukulandela umbandela wokubhaliswa nokugunyazwa kwaso noma saphula lo Mthetho, futhi leso sithunywa esisombulula umbango sinemvume egunyazwe omunye umkhandlu, uMlawuli weziKweleti kaZwelonke anga— (a) thwesa imibandela yokubhaliswa kwesinye isithunywa esisombulula umbango ehambisana nemvume yaso, uma ikhona; (b) adlulisele lolo daba ophikweni olulawulayo olwakhiphela leso sithunywa esisombulula umbango imvume, nesicelo sokuba uphiko olulawulayo lubuyekeze imvume kulezo zimo; noma (c) uma eceliwe, noma ngemvume, yophiko olulawulayo eyakhiphela leso sithunywa esixazulula ingxabano imvume, ukuba lufake isicelo eNkundleni sokuhoxisa ukubhaliswa nokugunyazwa kwaso. (3) Uphiko olulawulayo okudluliselwe kulona udaba ngokwemigomo 5 10 yesigatshana sesi-(2)(b)— (a) kufanele lubuyekeze ngokusemthethweni imvume yesinye isithunywa 15 esisombulula umbango; (b) ngendlela ehambisana nomthetho ngokwemigomo yemvume yesi- thunywa esisombulula umbango, lungamisa leyo mvume kusalindwe umphumela wesicelo sokubuyekeza; noma lungacela, noma luvumelane, noMlawuli weziKweleti kaZwelonke ofake isicelo eNkundleni yokuhoxisa ukubhalisa. (c) (4) UMlawuli weziKweleti kaZwelonke kufanele azame ukwenza isivumelwano njengoba kuveziwe esigabeni se-17(4) nophiko olulawulayo olukhipha izimvume zezinye izithunywa ezixazulula izingxabano ezi- bhaliswe ngokwemigomo yesigaba se-134A, ukuhlela inqubo ezolandelwa uma kuthathwa izinyathelo ngokwemigomo yesigatshana sesi-(2) nesesi- (3). (5) Ukubhalisa esinye isithunywa esisombulula umbango kuyasulwa kusukela— (a) ngosuku iNkundla eyakhipha ngalo umyalelo; noma (b) uma sizisulela, ngosuku oluvezwe ilolo phiko lokusombulula umbango esazisweni sokuzisulela. (6) Esinye isithunywa esisombulula umbango esesisuliwe akufanele sizibandakanye nomsebenzi wokubhalisa osemthethweni ngemuva kosuku esasulwa ngalo.’’. 20 25 30 35 Ukuchibiyela isigaba se-136 somthetho wama-34 wezi-2005

Section 37Verify source

§ 36Ngakho-ke isigaba se-136 soMthethongqangi sichitshiyelwe ngokufaka endaweniProvision

Anyone may submit a complaint to the National Credit Regulator, in the prescribed manner, about an alleged violation of the Act or an alleged reckless credit agreement.

36. Ngakho-ke isigaba se-136 soMthethongqangi sichitshiyelwe ngokufaka endaweni yesigatshana soku-(1) lesi sigaba esilandelayo: ‘‘(1) Noma ubani angathumela isikhalazo mayelana nezinsolo zokwaphula lo Mthetho noma isikhalazo mayelana nezinsolo zesivumelwano sesikweleti esi- nobudedengu kuMlawuli weziKweleti kaZwelonke ngendlela enqunyiwe.’’. 40 Ukuchibiyela isigaba se-163 soMthetho wama-34 wezi-2005

Section 36Verify source

§ 37Ngakho-ke isigaba se-163 soMthethongqangi sichitshiyelwe—Substitution

Debt counsellors may use agents only for administrative debt-review tasks, providers must ensure staff or agents are trained, the Minister must set training standards, and certain fees or commissions must be disclosed in writing if the agreement is concluded.

37. Ngakho-ke isigaba se-163 soMthethongqangi sichitshiyelwe— (a) ngokufaka endaweni yesigatshana soku-(1) lesi sigatshana esilandelayo: ‘‘(1) Ohlinzekela ngesikweleti, umeluleki ngezikweleti noma abaqoqa imali kumakhasimende kufanele baqikelele ukuthi abasebenzi noma izithunywa ziqeqeshiwe mayelana nezindaba lo Mthetho osebenza ngazo.’’; (b) ngokushutheka ngemuva kwesigatshana soku-(1) lesi sigatshana esila- ndelayo: ‘‘(1A) UNgqongqoshe kufanele anqume izimfanelo namazinga okuqeqesha okuvezwe esigatshaneni soku-(1). (1B) Kuze kumiswe izimiso zomthetho ezivezwe esigatshaneni soku-(1A), abahlinzekela ngesikweleti, abaluleki ngeizkweleti nabaqoqa imali kumakhasimende kufanele baqikelele ukuthi abasebenzi noma izithunywa ziqeqeshiwe ngendlela engabamba iqhaza ezinjongweni zalo Mthetho. 45 50 55 30 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 30 (1C) A debt counsellor may only make use of agents for administrative tasks relating to debt review.’’; and (c) by the substitution in subsection (3) for paragraph (b) of the following paragraph: ‘‘(b) that person must disclose to the consumer in writing the amount of any fee or commission that will be paid if the agreement is concluded; and’’. 5 Amendment of law

Section 37Verify source

§ 38The laws speciﬁed in the Schedule hereto are hereby amended to the extentShort title

The laws listed in the Schedule are amended to the extent set out in that Schedule.

38. The laws speciﬁed in the Schedule hereto are hereby amended to the extent speciﬁed in that Schedule. Short title and commencement 10

Section 38Verify source

§ 39This Act is called the National Credit Amendment Act, 2014, and shall come intoCommencement

The Act starts on a date chosen by the President by proclamation in the Gazette.

39. This Act is called the National Credit Amendment Act, 2014, and shall come into operation on a date ﬁxed by the President by proclamation in the Gazette. GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 31 Ino. 19 Ka 2014 31 (1C) Umeluleki ngezikweleti angasebenzisa kuphela izithunywa emisebenzini kwesi- kweleti.’’; futhi nokubuyekezwa yokungamela ehambisana (c) ngokufaka endaweni yesigatshana sesi-(3) endimeni (b) le ndima elandelayo: ‘‘(b) lowo muntu kufanele adalule kumakhasimende ngencwadi isamba ezokhokhwa uma kuphothulwa sekhomishini semali noma isivumelwano; futhi’’. Ukuchibiyela umthetho

Section 39Verify source

§ 38Ngakho-ke imithetho evezwe ngeSithasiselo ichitshiyelwe ngendlela evezweAmendment

The rules listed in the Schedule are amended as set out in that Schedule.

38. Ngakho-ke imithetho evezwe ngeSithasiselo ichitshiyelwe ngendlela evezwe kuleso Sithasiselo. Isihloko esiﬁngqiwe nokuqala kwawo ukusebenza 5 10

Section 38Verify source

§ 39Lo Mthetho ubizwa ngokuthi uMthetho oChibiyela iziKweleti zikaZwelonke,Short title

This section says the Act is called the National Credit Amendment Act, 2014, and it starts when the President proclaims it in the Gazette.

39. Lo Mthetho ubizwa ngokuthi uMthetho oChibiyela iziKweleti zikaZwelonke, uMongameli oluzonqunywa ukusebenza ngosuku futhi wezi-2014, uzoqala ngesimemezelo kuSomqulu. 32 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 32 Schedule No and year of Act Act No. 24 of 1936 Short title Extent of Amendment Insolvency Act, 1936

Section 39Verify source

§ 1The Insolvency Act is herebyAmendment

This provision says the Insolvency Act is amended by inserting a new section after section 8.

1. The Insolvency Act is hereby amended by the insertion after section 8 of the following section: Act No. 68 of 2008 Consumer Protection Act, 2008 ‘‘Debt review

Section 1Verify source

§ 8AA debtor who has applied for aProvision

A debtor who has applied for debt review must not be treated as having committed an act of insolvency.

8A. A debtor who has applied for a debt review must not be regarded as having committed an Act of insol- vency.’’.

Section 8AVerify source

§ 1Section 71 of the Consumer Protec-Amendment

Any person may file a complaint with the Commission, using the prescribed manner and form, about a matter covered by section 69 and alleging conduct inconsistent with the Act.

1. Section 71 of the Consumer Protec- tion Act is hereby amended by the sub- stitution for subsection (1) of the fol- lowing subsection: ‘‘(1) Any person may ﬁle a com- plaint concerning a matter contem- plated in section 69[(1)](c)(iv) [or (2)(b)] with the Commission in the prescribed manner and form, alleging that a person has acted in a manner inconsistent with this Act.’’. GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 33 Ino. 19 Ka 2014 33 Isithasiselo Isihloko esiﬁngqiwe Indlela ochitshiyelwe ngayo Inombolo nonyaka woMthetho Act No. 24 of 1936 Insolvency Act, 1936

Section 1Verify source

§ 1Ngakho-ke i-Insolvency ActAmendment

This section says the Insolvency Act is amended by inserting a new section after section 8.

1. Ngakho-ke i-Insolvency Act ichitshiyelwe ngokushutheka ngemuva kwesigaba sesi-8 lesi sigaba esilandelayo: ‘‘Ukubuyekeza izikweleti

Section 1Verify source

§ 8AOkweletayo ofake isiceloProvision

A person who applies for review of a debt must not be treated as having failed to pay debts.

8A. Okweletayo ofake isicelo sokuba kubuyekezwe isikweleti akufanele athathwe njengosehlulekile ukukhokha izikweleti.’’.

Section 8AVerify source

§ 1Ngakho-ke isigaba sama-71 se-Amendment

Anyone may lodge a complaint with the Commission in the prescribed manner about certain matters, alleging non-compliance with the Act.

1. Ngakho-ke isigaba sama-71 se- Consumer Protection Act sichitshiyelwe ngokufaka endaweni yesigatshana soku- (1) lesi sigatshana esilandelayo: ‘‘(1) Noma ubani angafaka isikhalazo mayelana nodaba oluvezwe esigabeni sama-69[(1)](c)(iv) [noma (2)(b)] kwiKhomishana ngendlela enqunyiwe, ngezinsolo zokuba lowo muntu wenze okungahambisani nalo Mthetho.’’. Act No. 68 of 2008 Consumer Protection Act, 2008 34 No. 37665 Act No. 19 of 2014 GOVERNMENT GAZETTE, 19 May 2014 National Credit Amendment Act, 2014 GOVERNMENT GAZETTE, 19 May 2014 uMthetho oChibiyela iziKweleti zikaZwelonke wezi, 2014 No. 37665 35 Ino. 19 Ka 2014

Section 1Verify source

Legislative relationships

12 referenced instruments

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A–F

5 instruments

A person who contravenes this section commits an offence. 29. Section 100 of the principal Act
Section 29
Act Act
Section 39
Banks within the agreed time frame before investigating a bank. 2. Section 17 of the principal Act
Section 2
Consumer Protec- tion Act
Section 1
Corrupt Act
Sections 6, 7

N–S

6 instruments

National Credit Act, 2005
Section 1
National Credit Regulator. 4. Section 23 of the principal Act
Section 4
National Credit Regulator.’’. 5 10 15 20 Amendment of section 25 of Act
Section 4
principal Act
Sections 7, 17, 25, 32
section 45 to require the National Credit Regulator to register an applicant who meets the Act
Section 13
section 49 and introduces a new paragraph allowing act
Section 17

T–Z

1 instrument

Tribunal may not be reduced during the term of office of such a member.’’. Amendment of section 40 of Act
Section 9

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