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

Chapter 2 : Consumer Credit Institutions

Part D : National and provincial co-operation

37. Co-operative exercise of concurrent jurisdiction

 

(1) The Minister must consult with the responsible MEC of any province concerned—
(a) to co-ordinate and harmonise the functions relating to consumer credit to be performed by the National Credit Regulator and one or more provincial credit regulators; and
(b) to facilitate the settlement of any dispute between the National Credit Regulator and one or more provincial credit regulators.

 

(2) If this Act requires the provincial credit regulators to perform a particular function within their respective provinces, and—
(a) within a particular province, no provincial credit regulator has been established; or
(b) the Minister concludes on reasonable grounds that the provincial credit regulator within a particular province is unable to perform that function effectively,

the Minister must consult with the responsible MEC of that province to determine the steps to be taken to ensure the fulfilment of that statutory obligation.