Special Investigating Units and Special Tribunals Act, 1996
R 385
National Credit Act, 2005 (Act No. 34 of 2005)Chapter 5 : Consumer Credit AgreementsPart F : Rescission and termination of credit agreements122. When consumer may terminate agreement |
| (1) | A consumer may terminate a credit agreement at any time by paying the settlement amount to the credit provider, in accordance with section 125. |
| (2) | In addition to subsection (1), a consumer may terminate an instalment agreement, secured loan or lease of movable property, by— |
| (a) | surrendering to the credit provider the goods that are the subject of that agreement in accordance with section 127; and |
| (b) | paying to the credit provider any remaining amount demanded in accordance with section 127(7). |
