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act-100-1988.pdf | 3.25 MB |
100 of 1988
The Usury Amendment Act 100 of 1988 intends:
- to amend the Usury Act, 1968 [repealed in June 2006], so as
- to further regulate the application of the Act in respect of credit transactions and leasing transactions;
- to extend the particulars to be stated in instruments of debt;
- to regulate the recovery and disclosure of finance charges where a variable or non-variable finance charge rate is agreed upon at the conclusion of a contract;
- to provide for the recovery of certain moneys not permitted by section 5 of the Act;
- to grant to the Minister the power to exempt certain credit transactions and leasing transactions from the application of the Act; and
- to increase certain penalties; and
- to provide for matters connected therewith,
Commencement
30 September 1988