Usury Amendment Act 100 of 1988

Files

Attachment	Size
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to amend the Usury Act, 1968 [repealed in June 2006], so as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,

30 September 1988