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NATIONAL CREDIT REGULATOR

The National Credit Regulator (NCR) was established by the National Credit Act 34 of 2005 (NCA) and it regulates the South African credit industry. It is entrusted with credit education, research, policy development, registration of industry participants, investigation of complaints and ensuring enforcement of the National Credit Act.

The NCR is also responsible for the registration of credit providers, credit bureaus, debt counsellors, and the enforcement of compliance with the National Credit Act.

More information about the NCR can be found on their website: www.ncr.org.za 

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NATIONAL CREDIT ACT NO. 34 OF 2005

The National Credit Act 34 of 2005 aims:

  • to promote a fair and non-discriminatory marketplace for access to consumer credit
  • to provide for the general regulation of consumer credit and improved standards of consumer information.
  • to promote black economic empowerment and ownership within the consumer credit industry.
  • to prohibit certain unfair credit and credit-marketing practices.
  • to promote responsible credit granting and use and for that purpose to prohibit reckless credit granting.
  • to provide for debt re-organization in cases of over-indebtedness.
  • to regulate credit information.
  • to provide for registration of credit bureaux, credit providers and debt counselling services.
  • to establish national norms and standards relating to consumer credit.
  • to promote a consistent enforcement framework relating to consumer credit.
  • to establish the National Credit Regulator and the National Consumer Tribunal.
  • to repeal the Usury Act, 1968, and the Credit Agreements Act, 1980; and
  • to provide for related incidental matters.

If you wish to download a full copy of the Act visit this webpage: National Credit Act Download

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