Guide to the National Credit Act

 

The granting and taking up of credit is one of the cornerstones of modern commercial activity and that is why the coming into force of the National Credit Act, which replaced legislation that had regulated consumer credit for more than a quarter of a century, namely the Credit Agreements Act and the Usury Act, was such a significant event.

The National Credit Act forms part of a wave of new measures aimed at protecting consumers and making credit and banking services more accessible. Because the Act alters the legal landscape so dramatically, it is essential that legal practitioners and academics, courts and tribunals, regulators, credit providers, consumers, consumer bodies, debt counselors and credit bureaux come to grips with the new credit regime as soon as possible.

This publication is designed to provide comprehensive guidance to those who borrow and to those who lend.

The publication is available in printed looseleaf format and online.

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  • Chapter 1 Introduction and Historical Background
  • Chapter 2 The Implementation, Objects and Interpretation of the National Credit Act
  • Chapter 3 Consumer Credit Institutions : The National Credit Regulator and the National Consumer Tribunal
  • Chapter 4 The Scope of Application of the National Credit Act
  • Chapter 5 Registration and Consequences of Non-Registration
  • Chapter 6 The Consumer's Rights and the Credit Provider's Obligations
  • Chapter 7 Marketing Standards
  • Chapter 8 Types of Credit Agreements
  • Chapter 9 Conclusion, Alteration and Termination of Credit Agreements
  • Chapter 10 Interest, Fees and Charges
  • Chapter 11 Over-Indebtedness and Reckless Lending
  • Chapter 12 Enforcement of Credit Agreements
  • Chapter 13 Dispute Settlement other than Debt Enforcement
  • Chapter 14 A Practical Discussion of the Debt Counseling Process
  • Chapter 15 Credit Bureaux
  • Chapter 16 Offences and Penalties
  • Chapter 17 The Effects of Non-Compliance
  • Chapter 18 Transitional Provisions and Existing Agreements
  • Chapter 19 Statements of Account
  • Chapter 20 Miscellaneous Matters