South African Government

www.gov.za

Let's grow South Africa together

National Credit Amendment Act 19 of 2014

Files: 
AttachmentSize
PDF icon 37665gon389.pdf359.71 KB
19 of 2014

The National Credit Amendment Act 19 of 2014 aims:

  • to amend the National Credit Act, 2005, so as:
    • to amend certain definitions;
    • to provide for the alteration of the governance structure of the National Credit Regulator;
    • to empower the Chief Executive Officer to delegate certain functions to other officials of the National Credit Regulator;
    • to provide for the registration of payment distribution agents;
    • to tighten measures relating to debt counsellors and the conduct of their practices as debt counsellors;
    • to allow registrants to voluntarily cancel their registration;
    • to empower the Minister to issue a notice for the removal of adverse consumer credit information;
    • to provide for automatic removal of adverse consumer credit information;
    • to empower the National Consumer Tribunal to declare a credit agreement reckless;
    • to provide for the registration and accreditation of alternative dispute resolution agents; and
  • to provide for matters connected therewith.

Amends

Commencement

13 March 2015 (Government Gazette 38557, 13 March 2015)