Implementation of Geneva Conventions Act, 2012
R 385
National Credit Act, 2005 (Act No. 34 of 2005)RegulationsFree Credit Records Regulations, 20064. Annual registration renewal fee prescribed in terms of section 51(1)(c) |
| 4(1)(a) | The prescribed annual registration renewal fee for registration as a credit provider in terms of section 40 of the Act is |
| i) | the amount as indicated in Table D for each sub-category of registrant, plus |
| ii) | a branch fee of R250 per location or premises at or from which the applicant conducts registered activities in its own name, as per section 51 (2) and section 40(2)(c) of the Act, subject to the total amount of the branch fees for all the branches of the applicant being limited to the total of the fee as per 4(1)(a) for the particular registrant; |
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Category: Credit Providers |
Fee |
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R300,000 |
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R180,000 plus 0.001% of the amount by which the total principal debt exceeds R5 billion. |
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R60,000 plus 0.003% of the amount by which the total principal debt exceeds R1 billion. |
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R15,000 plus 0.005% of the amount by which the total principal debt exceeds R100 million |
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R6,000 plus 0.01% of the amount by which the total principal debt exceeds R5 million. |
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R2,000 plus 0.1% of the amount by which the total principal debt exceeds R1 million. |
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R1,500 |
| b) | The total principal debt for purpose of determining the applicable annual registration renewal fee for the particular credit provider, must be, |
| i) | based upon the Statistical Return, Form 39, of the Regulations; |
| ii) | as per the most recent submission per Regulation 64, prior to the date of renewal of registration; |
| c) | For the purpose of determining the applicable annual registration renewal fee, the National Credit Regulator may, at its sole discretion |
| i) | allocate a credit provider to a lower sub-category than the category determined by the total principal debt of the credit provider, or apply a reduced registration fee to the particular credit provider, |
| ii) | upon receipt of a motivation submitted by the credit provider, showing cause for the allocation of the credit provider to such a different category or for such a reduction; |
| d) | A further branch fee R250 per branch is payable upon submission of an application for an increase in branches, if the applicant wishes to increase the number of locations or premises at or from which it conducts registered activities in its own name. |
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Category: Credit Bureaux |
Fee |
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Credit Bureaux |
R10,000, plus R5 per 1,000 consumer credit enquiries But not to exceed R200,000 |
| a) | The consumer credit enquiries for purpose of determining the applicable annual registration renewal fee for the particular credit bureaux, |
| i) | must be based upon the credit bureaux synoptic reports; |
| ii) | for a 12 month period ending with the period covered by the most recent credit bureaux synoptic report per Regulation 71, prior to the date of anniversary of registration; |
| b) | For the purpose of determining the annual registration renewal fee, the National Credit Regulator may, at its sole discretion |
| i) | allocate a lower fee to a credit bureaux than the fee as per Table E, |
| ii) | upon receipt of a motivation submitted by the credit bureaux, showing cause for such a reduction. |
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Category: Debt Counsellors |
Fee |
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Debt counsellor |
R100 |
| 4(4) | The payment of the registration renewal fee, for all applicants |
| a) | must be made by the date of anniversary of registration, or on such different date as specified by the National Credit Regulator; |
| b) | must be made by cheque made out to the National Credit Regulator or by electronic transfer to the bank account of the National Credit Regulator; |
| c) | will be deemed to have been made on the date upon which the funds are credited to the bank account of the National Credit Regulator. |
