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

Notices

Guideline for the Submission of Credit Information in terms of Regulation 19(13) of the National Credit Act, 34 of 2005, as amended

3. The form and manner of reporting credit information

 

3.1 All credit providers must utilise the Data Transmission Hub for the submission of all credit information in accordance with Annexure A and information pertaining to the removal of adverse information to the credit bureaux.

 

3.2 All credit providers must utilise the data format for purposes of the submission and updating of credit information to the credit bureaux.

 

3.3 All data providers that access the payment profile information of a consumer for a permitted or prescribed purpose as provided for in the Act must:
3.3.1 provide all relevant credit information in respect of consumers to credit bureaux in the same manner and form as credit providers in order to receive payment profile information from a credit bureau in respect of any consumer;
3.3.2 ensure that they comply with all the requirements set out in the Act for loading credit information onto the credit bureaux;
3.3.3 utilise the Data Transmission Hub for the submission of credit information to the credit bureaux and in doing so, must use the data format for purposes of such submission; and
3.3.4 pay any fees that are prescribed for the onboarding, usage and maintenance of the Data Transmission Hub.

 

3.4 Failure by a data provider to comply with Clause 3 of this Guideline will result in access to payment profile information being denied to such data provider, by the credit bureaux.

 

3.5 All credit providers and data providers currently providing credit information to the credit bureaux via the Data Transmission Hub, including all SACRRA members who provide credit information to credit bureaux, must continue, or immediately commence with the on-boarding process, to provide credit information to the credit bureaux in the manner and form prescribed in 3.1 and 3.2 above.

 

Provided that such credit providers, data providers and credit bureaux retain their membership of SACRRA, no fees other than annual SACRRA membership fees will be levied or payable for the use or maintenance of the Data Transmission Hub until 2019 at which time new fees for all will be prescribed.

 

3.6 All credit providers and data providers not included in 3.5 above, including all non-SACCRA members must:
3.6.1 Undergo an assessment as a provider of credit information by SACRRA, between 1st July and 1st November 2017, at the commencement of which they must pay a once-off assessment fee of R500;
3.6.2 In January 2018, pay a once-off fee to be published in December 2017 to cover the costs of on-boarding;
3.6.3 Ensure that all fees are paid within 30 days of invoice in respect thereof.

 

3.7 Fees to be payable annually for the usage and maintenance of the Data Transmission Hub, data format and reporting to the NCR in terms thereof, will be stipulated by category of credit provider and/or data provider and will be payable in accordance with the on-boarding timetable over a period of three years as determined in a subsequent Guideline, with credit providers in categories 1-5 and all data providers to be on-boarded in 2018.

 

3.8 At the same time as the fees are published annually, a date for commencement of submission of credit information will be prescribed for such credit and data providers.

 

3.9 Credit provider categories are detailed in Table A of the Act, as amended by Government Gazette of 11 May 2016.

 

3.10 Data provider categories will be determined by SACRRA during the registration process.

 

3.11 SACRRA will monitor the quality of the credit information reported by all credit providers and data providers and report any data quality problems to the National Credit Regulator at agreed intervals for appropriate regulatory action to be taken to address those issues.