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

Chapter 2 : Consumer Credit Institutions

Part A : National Credit Regulator

23. Appointment of Chief Executive Officer

 

(1) The Minister must appoint a suitably qualified and experienced person as Chief Executive Officer of the National Credit Regulator, who must be responsible for all matters pertaining to the functions of the National Credit Regulator.

[Subsection (1) substituted by section 4(a) of Act No. 19 of 2014]

 

(2) [Subsection (2) deleted by section 4(b) of Act No. 19 of 2014]

 

(3) The Chief Executive Officer is the accounting authority for the National Credit Regulator, and as such is responsible for—
(a) all income and expenditure of the National Credit Regulator;
(b) all revenue collected by the National Credit Regulator;
(c) all assets, and the discharge of all duties and liabilities of the National Credit Regulator; and
(d) proper and diligent implementation of this Act in order to achieve the objects stipulated in this Act.

[Subsection (3) inserted by section 4(c) of Act No. 19 of 2014]

 

(4) The Chief Executive Officer may—
(a) assign management and other duties to employees with appropriate skills to assist the National Credit Regulator in the management, or control of the National Credit Regulator; and
(b) delegate, with or without conditions, any of the powers or functions of the Chief Executive Officer to any suitably qualified employee of the National Credit Regulator, but such delegation does not divest the Chief Executive Officer of responsibility for the exercise of any power or performance of any duty.

[Subsection (4) inserted by section 4(c) of Act No. 19 of 2014]

 

(5) The Minister may appoint a person who is suitably qualified and experienced, as a Deputy Chief Executive Officer to assist the Chief Executive Officer in carrying out the functions of the National Credit Regulator.

[Subsection (5) inserted by section 4(c) of Act No. 19 of 2014]