Special Investigating Units and Special Tribunals Act, 1996
R 385
National Credit Act, 2005 (Act No. 34 of 2005)Chapter 6 : Collection, Repayment, Surrender and Debt EnforcementPart A : Collection and repayment practices126B. Application of prescription on debt |
(1)
| (a) | No person may sell a debt under a credit agreement to which this Act applies and that has been extinguished by prescription under the Prescription Act, 1969 (Act No. 68 of 1969). |
| (b) | No person may continue the collection of, or re-activate a debt under a credit agreement to which this Act applies— |
| (i) | which debt has been extinguished by prescription under the Prescription Act, 1969 (Act No. 68 of 1969); and |
| (ii) | where the consumer raises the defence of prescription, or would reasonably have raised the defence of prescription had the consumer been aware of such a defence, in response to a demand, whether as part of legal proceedings or otherwise. |
[Section 126B inserted by section 31 of Act No. 19 of 2014]
