Housing Development Agency Act, 2008
R 385
Report 76 Business Practices Committee9. Existing regulations on pyramid schemes |
Regulation No R.469 of 14 March 1980, published in Government Gazette No 6880, imposed conditions in respect of a "pyramid selling scheme" as defined. These regulations were promulgated more than 18 years ago, but the Committee is not aware of any court actions that were brought against any operator of a pyramid in terms of these regulations. The reason could be that the existing regulations are too cumbersome and in the spirit of deregulation it is recommended that these regulations should be repealed.
