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

Chapter 8 : Enforcement of Act

Purchase

(1)	A credit provider, debt counsellor or payment distributing agent must ensure that its employees or agents are trained in respect of the matters to which this Act applies.

[Subsection (1) substituted by section 37(a) of Act No. 19 of 2014]

(1A)	The Minister must prescribe the requirements and standards for the training contemplated in subsection (1).

[Subsection (1A) inserted by section 37(b) of Act No. 19 of 2014]

(1B)	Until the regulations envisaged in subsection (1A) have been made, credit providers, debt counsellors and payment distributing agents must ensure that its employees or agents are trained to such an extent that they can contribute to the purpose of this Act.

[Subsection (1B) inserted by section 37(b) of Act No. 19 of 2014]

(1C)	A debt counsellor may only make use of agents for administrative tasks relating to debt review.

[Subsection (1C) inserted by section 37(b) of Act No. 19 of 2014]

(2)	If a credit provider makes use of agents for solicitation, completion or conclusion of credit agreements—

(a)	the agents must show an identification card in the prescribed manner and form to any person with whom the agent interacts in the solicitation, completion or conclusion of credit agreements; and

(b)	the credit provider must maintain a register in the prescribed manner and form of all agents.

(3)	If a person who is not an employee or agent of a credit provider, solicits, completes or concludes a credit agreement for or on behalf of a credit provider or a consumer—

(a)	that person must be identified by name and identity number in the credit agreement;

(b)	that person must disclose to the consumer in writing the amount of any fee or commission that will be paid if the agreement is concluded; and

[Subsection (3)(b) substituted by section 37(c) of Act No. 19 of 2014]

(c)	any fee or commission to be charged to the consumer—

(i)	must not exceed the prescribed amount; and

(ii)	may be paid to that person only if the agreement is concluded.