Statistics Act, 1999
R 385
National Credit Act, 2005 (Act No. 34 of 2005)Chapter 5 : Consumer Credit AgreementsPart D : Statements of account112. Dating and adjustment of debits and credits in accounts |
| (1) | A debit to a consumer’s account takes effect as of the date on which the consumer incurred that debit. |
| (2) | A credit to a consumer’s account takes effect on the date the consumer makes a payment to the credit provider, or otherwise earns the right to have the account credited. |
| (3) | A credit provider may subsequently adjust debits or credits to a consumer’s account, and the account balances, so as to accurately reflect the legal obligations of the consumer and the credit provider. |
