Usury Amendment Act 62 of 1987

The Usury Amendment Act 62 of 1987 intends: 

• to amend the Usury Act, 1968 [repealed in June 2006], so as
  • to define the expression "ledger fee" more fully;
  • to make other provision regarding the determination of maximum finance charge rates;
  • to emend the provisions regarding the disclosure or finance charges and annual finance charge rate; and
  • to limit the application or the said Act in respect or a leasing transaction which expires and where the book value or the movable property leased in terms or such transaction, is nil; and
• to provide for incidental matters.

Commencement

15 April 1988 (Gazette 11252 of 15 April 1988)