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National Credit Act, 2005 (Act No. 34 of 2005)

Chapter 8 : Enforcement of Act

Part B : Offences

157B. Offences related to credit agreements generally

 

(1) A credit provider who intentionally—
(a) participates in an unlawful credit marketing practice contemplated in section 74(2) and (3), section 75(1) or section 91;
(b) does not comply with the limitations to entering into a credit agreement at a private dwelling contemplated in section 75(2);
(c) does not comply with the limitations related to visiting or entering into a credit agreement at a person’s place of employment contemplated in section 75(3);
(d) enters into an unlawful agreement contemplated in section 89(2) with a prospective consumer;
(e) includes an unlawful provision contemplated in section 90 in a credit agreement with a prospective consumer; or
(f) offers or demands that a consumer purchases or maintains insurance that is unreasonable, at an unreasonable cost, or is to cover a risk that reasonably cannot arise in respect of that consumer, as contemplated in section 106(2)(a) or (b) respectively, is guilty of an offence.

 

(2) Any person who intentionally sells a debt under a credit agreement to which this Act applies and which debt has been extinguished by prescription under the Prescription Act, 1969 (Act No. 68 of 1969), as contemplated by section 126B(1)(a), is guilty of an offence.

 

(3) Any person who intentionally continues the collection of, or attempts to re-activate a debt under a credit agreement to which this Act applies under the circumstances contemplated in section 126B(1)(b), is guilty of an offence.

 

[Section 157B inserted by section 25 of Notice No. 1081, GG 42649, dated 19 August 2019]