Special Investigating Units and Special Tribunals Act, 1996
R 385
National Credit Act, 2005 (Act No. 34 of 2005)Chapter 2 : Consumer Credit InstitutionsPart A : National Credit Regulator12. Establishment of National Credit Regulator |
| (1) | There is hereby established a body to be known as the National Credit Regulator, which— |
| (a) | has jurisdiction throughout the Republic; |
| (b) | is a juristic person; |
| (c) | is independent and subject only to the Constitution and the law; |
| (d) | must exercise its functions in accordance with this Act; |
| (e) | must be impartial; and |
| (f) | must perform its functions— |
| (i) | in as transparent a manner as is appropriate having regard to the nature of the specific function; and |
| (ii) | without fear, favour, or prejudice. |
| (2) | Each organ of state must assist the National Credit Regulator to maintain its independence and impartiality, and to perform its functions effectively. |
| (3) | The National Credit Regulator is responsible to carry out the functions and exercise the powers— |
| (a) | set out in sections 12 to 18; or |
| (b) | assigned to it by or in terms of this Act, or any other national legislation. |
| (4) | In carrying out its functions, the National Credit Regulator may— |
| (a) | have regard to international developments in the field of consumer credit and consumer financing; or |
| (b) | consult any person, organisation or institution with regard to any matter. |
| (5) | In respect to a particular matter within its jurisdiction or responsibility, the National Credit Regulator may exercise its responsibility by way of an agreement contemplated in section 17(4)(b). |
