(1) Any person convicted of an offence in terms of this Act, is liable—
(a) |
in the case of a contravention of section 160(1), to a fine or to imprisonment for a period not exceeding 10 years, or to both a fine and imprisonment; |
(aA) |
in the case of a contravention contemplated in section 157A, to— |
(i) |
a fine or imprisonment not exceeding two years or to both a fine and such imprisonment; and |
(aB) |
in the case of a contravention contemplated in sections 157B or 157C, to a fine or imprisonment not exceeding 10 years or to both a fine and such imprisonment or, if the convicted person is not a natural person as contemplated in section 157D, to a fine not exceeding 10 per cent of its annual turnover or R1 000 000, whichever amount is the greater; or |
(b) |
in any other case not listed in paragraphs (a), (aA) or (aB), to a fine or to imprisonment for a period not exceeding 12 months, or to both a fine and imprisonment. |
(2) |
When determining an appropriate penalty, the following factors must be considered: |
(a) |
The nature, duration, gravity and extent of the contravention; |
(b) |
any loss or damage suffered as a result of the contravention; |
(c) |
the behaviour of the person convicted of an offence in terms of this Act; |
(d) |
the market circumstances in which the contravention took place; |
(e) |
the value of the credit agreement that formed the basis for the commission of the offence; |
(f) |
the degree to which the person convicted of an offence in terms of this Act has co-operated with the National Credit Regulator or Tribunal; and |
(g) |
whether the person convicted of an offence in terms of this Act has previously been found in contravention of this Act. |
(3) |
For purposes of determining the appropriate penalty contemplated in subsection (1)(aB), annual turnover must be calculated in accordance with section 151(4). |
[Section 161 substituted by section 26 of Notice No. 1081, GG 42649, dated 19 August 2019]