National Credit Amendment Act 7 of 2019 (English/ isiZulu)

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7 of 2019

National Credit Amendment Act 7 of 2019 aims: 

  • To amend the National Credit Act, 2005, so as to provide for debt intervention
  • to insert new definitions; to include the evaluation and referral of debt intervention applications as a function of the National Credit Regulator and to provide for the creation of capacity within the National Credit Regulator and logistical arrangements to execute this function
  • to include the consideration of a referral as a function of the Tribunal
  • to provide for the recordal of information related to debt intervention
  • to require a debt counsellor to investigate whether an agreement is reckless
  • to provide for a court to enquire into and either refer a matter for debt intervention or make an order related to debt intervention
  • to provide for a Magistrate’s Court and the Tribunal to determine the maximum interest, fees or other charges when re-arranging debt and for guidance to be prescribed in this regard
  • to provide for an application for debt intervention and the evaluation thereof
  • to provide for the Tribunal to re-arrange a consumer’s obligations and make an order in respect of an unlawful credit agreement
  • to provide for orders related to debt intervention and rehabilitation in respect of such an order; to provide for mandatory credit life insurance to be prescribed
  • to provide for offences related to debt intervention, prohibited credit practices, selling or collecting prescribed debt and related to failure to register as required by the Act
  • to provide for measures when an offence is committed by a person other than a natural person
  • to provide for penalties in relation to the newly created offences
  • to provide for the Tribunal to change or rescind an order under certain circumstances
  • to require the Minister to make regulations related to a financial literacy programme
  • to provide in a transitional provision for the application of this Amendment Act to credit agreements entered into before its commencement and
  • to provide for matters connected therewith.


  • Comes into operation on a date fixed by the President by proclamation in the Gazette